NetLessor - Mass Terminations

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

Step By Step Process:

Navigate to the Terminate Leases page by selecting NetLessor > Mass Update 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 Received Per Lease to Terminate	Input the amount to be received 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 received upon termination Note: This amount will be recorded to the Lease Receivable Clearing Account	3,500
Cash Paid Per Lease to Terminate	Input the amount to be paid per lease to terminate. Note: This amount will be recorded to the Inventory/Fixed Asset Clearing Account	500
Leased Asset Value At Termination	Input the value of the leased asset at termination	23,000
Termination Note	Provide any additional description or details for the termination	Lessee no longer needed vehicle

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