Entering a Lease

In the Billing screen, the fields "Lease Term", "Contract Start", "Contract End", "Contract Type" and "Start Periodic" must be populated before the Lease screen details can be created.

Click to enter the required budgets in Period 1 - the system then populates the remaining periods with the same values.

If the Quotations module is being used, the budget values from the quote will show in the Lease screen and no editing should be required (if the quote budgets are correct!).

Editing a Lease

You can only edit unbilled scheduled lease periods. For example, if a contract has been billed for 16 periods, then periods 17 onwards can be edited.

If a period is edited, all the remaining periods will be updated with the changed values. So, if a budget variation is needed, edit the period when the variation should occur and the change will flow on to all subsequent periods.

If you only want to edit one period, edit the selected period and then adjust the subsequent period to reflect the required ongoing value.

Another approach is to use the Insert function to add in the change as a secondary record in the period, so no other changes are required.

Editing out of sequence

It's possible to un-post a scheduled record and have later records that remain posted. In this situation, if this earlier record is edited, it will still update all remaining scheduled records regardless of where in the billing sequence they are.

For example, period records 1, 2, 4 and 5 are invoiced and period 3 was un-posted and is now pending. Any changes made to period 3 will also affect period 6 onwards. However, if period 6 is changed, period 3 will remain unchanged, as changes to scheduled records only update future scheduled records.

Adjusting a Lease (Insert)

Go to the process page Adjust a lease period billing for the steps to do this.

You can adjust a single lease period by adding an adjustment record.

These are numbered sequentially after the initial billing.
E.g. If the adjustment is against the 4th billing period, the first adjustment will be identified as 4.2, the second 4.3, and so on.

You can also identify adjustments in the Lease screen as the Note column displays "Adjustment".

To make an adjustment, select the billing row you want to adjust and then click.

When an adjustment row has not been billed:

• You can edit the record - it will only change the selected adjustment row. Note the difference in behaviour to regular schedule rows where an edit updates all future scheduled billing.

• You can delete the record. Note you cannot delete a scheduled billing.

You can make multiple adjustments against a period if required. I.e. you can click on Period 4, or Period 4.2 and in both cases, the new adjustment 4.3 will be created.

You can make adjustments with a 0, positive or negative value.

If the adjustment has a value, a tax invoice or an adjustment note will be generated within the standard billing process. The invoice will be described as usual, except the billing period will display with the suffix (e.g. 4.2). This identifies it as an adjusting entry.

If the adjustment results in a 0 value total, no invoice will be generated in the billing process. The billing routine is still run and the 0 value transaction is posted. When bundled with later transactions of value, it will not be visible. If billing is run only for a 0 value adjustment, the warning message "Nothing found" will appear - ignore this and process the transaction anyway. If this adjustment has been made against a Novated Contract, the billing period will not be included in the Driver Statement under 'Months Life to Date so far' and 'Months this FBT year so far', as the billed period has been reversed.

Any adjustments must be run before changing a Contract's "Periodic Interval" in the Billing screen. Changing the interval will re-write all unposted billing records to the new interval.

Generating Credit Notes

If configured, a credit note can be generated when you edit a lease period or insert an adjustment that has a total negative value. If this occurs, the "Note" field is updated to display 'Credit' when the record is saved.

If a credit note is created, it will be invoiced even if the contract has been suspended.

This is not enabled by default.

Missing a Budget?

If a budget line has been added to the "Contract Type" after the lease began, it will not be displayed in the Lease screen. To resolve this:

• Go to the Billing screen and click "Vary" followed by "Save" and "OK to Save any Changes".

• Once completed, the missing budget line will be displayed on the Lease screen.

We recommend printing or exporting the Lease Schedule Report before making billing or lease changes on existing contracts.

Field Descriptions

Period Fields

Budget Fields

Total Fields

Control Fields

Output Options

Action Buttons

• Invoice Now — Posts pending record.

• Print — Prints scheduled billing.

• Vary — Updates all future periodic billings.

• Edit — Edits selected record only.

• Insert — Adds adjustment or credit to period.

• Finalise — Creates balancing record to zero variance.

• Delete — Removes pending adjustments or credits.