NetLease - Mass Terminations

Use Case: Multiple leases need to be terminated at the same time or segregation of duties requires a separate person handle lease termination.

Step By Step Process:

Navigate to the Terminate Leases page by selecting NetLease > Mass Updates Leases > Mass Terminate Leases

Enter any desired filters and click Filter Results if you would only like a subset of leases to be terminated.
Update the fields as necessary for the lease termination:

Field	Description	Example
Cash Paid Per Lease to Terminate	Input the amount to be paid in the lease termination month per lease to terminate. Note that this amount should include both (1) standard lease payments, as well as (2) termination penalties or other consideration to be paid upon termination Note: This amount will be recorded to the Lease Liability Payable Clearing Account	3,500
Cash Received Per Lease to Terminate	Input the amount to be received per lease to terminate. Note: This amount will be recorded to the ROU Clearing Account	0
Termination Reason	Provide a brief description of the reason for the termination.	Early termination
Termination Note	Provide any additional description or details for the termination	Excess supply and under-utilized; to return to lessor

Once you’re happy with the leases selected in the sublist, click the Terminate button.

You will be redirected to a status page where you can refresh periodically to see the newly terminated leases
Clicking the link in the Lease column will reveal the same schedule and GL impacts covered in the previous section on individual lease termination

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