Payment Changes

Introduction

After you have entered all your asset and contract information into Real Estate Manager, there may be times where you need to update or change the data captured. There are times when things like your payments will change throughout the life of a contract. This guide will walk through various kinds of payment changes and how to record those in Real Estate Manager. Some of these payment changes also need to be reflected in Lease Accounting Manager and below you will find steps for the synchronization process as well.

One-time Increase in Payment

Scenario: Rent increases for one month due to late fee or other one-off charge.

This information not only needs to be recorded in Real Estate Manager, but then it needs to be reflected in our Lease Accounting Manager as well. Since this isn’t really a change in payments going forward, but a one-off payment that is different, we are going to reflect this using a one-off invoice. First the one-off invoice will be added and then the one-time payment import will be performed. Lastly, the contract will be synchronized with Lease Accounting Manager to complete the process.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, put contract in edit mode. This can be done by clicking Edit next to the Contract if you are viewing all contracts. If you are already in a single contract, scroll to the bottom and click Edit.
Once in Edit mode, click the blue hyperlink Contract Invoices.
Within the Contract Invoices workspace, scroll to bottom and click Add One-off Invoice.
Input the relevant Invoice Details:
- Invoice #
- Invoice Type
- Purchase Order #
- Group
- Currency
- Vendor
- Date of Invoice
- Description
- Notes
If you have included any custom fields for this Invoice Type, populate those as necessary.
Now add the costs for this invoice, starting by putting a Description for the cost.
Next select the appropriate Asset that the contract is relevant for.
Select the Cost Category.
Select the appropriate Jurisdiction and then Tax Rate for that jurisdiction.
Input the amount for this invoice. Since this is a one-time payment increase, you should enter the amount the payment is increasing, not the entire new payment amount. For example, if you have a $75.00 late fee, this invoice amount would be $75.00.
Click the Calculator icon.

Note: If the Tax Rate is updated, you must click the Calculator icon again in the Payment field to ensure accurate tax amount is calculated in the Tax Amount field. Similarly, if the Payment amount is edited, you should click the Calculator icon again to ensure the accurate tax amount is calculated in the Tax Amount field.
Ensure the right Incurred dates are entered.
If the cost is apportioned between Divisions or Subdivisions, click Apportion and set the appropriate apportionments.
If you have additional custom fields you would like to edit, click fields, and make necessary edits.
If you have additional costs to add to this invoice, click Add Cost and repeat steps 15-23 for each additional cost line item.
When all costs have been added, click Save.
Click Save Contract.
Enter any relevant Notes and then click Okay.
Now from the Actions drop-down, select Import One-Time Payments and click Perform Action.
Click Okay on the confirmation pop-up.
Status will change to ONEOFF Payment – Pending Real Estate Approval.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to ONEOFF Payment – Synchronized.

One-Time Increase in Non-Lease Accounting Significant Cost

Scenario: Operating Expenses increased for a specific payment

This is when you have a one-time increase in your payment for a cost that is not related to your lease payment and therefore is not lease accounting significant. To add this cost, you’ll still add a one-time invoice using the difference in payment as the invoice amount, not the total new payment amount. You will go through the same steps of editing the contract and going to the contract invoices and adding a one-off Invoice. The difference is that when you get to the Category, select your cost category that is not lease accounting significant. Cost Categories are configured within the Administration workspace and must be done prior to entering any assets or contracts.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, click the hyperlink under Description to open the contract details.
Once in Contract Details, click the Invoices tab to view all invoices.
Navigate through the Generated Invoices section to find the one invoice you need to change the non-lease accounting significant cost for. Click Edit for that invoice.
Once the Edit Invoice pop-up opens, you can change the Cost Category at the bottom of the pop-up. Click in the Payment Amount field and change as necessary to reflect the accurate payment amount.
Click the Calculator icon to ensure per annum population.
Click Save

One-time Decrease in Payment

Scenario: You are leasing a building and the landlord has agreed to give you a discount or credit on next month’s rent.

While there may be times when your rent will increase, there are also times when it may decrease. The process to decrease your rent in Real Estate Manager is different than when you need to increase it. Instead of creating a one-off invoice, you must perform a lease variation and add two reviews, one to decrease the payment for the period and one to get the payment back to the original amount. Once both reviews are added and actioned, you must synchronize the lease with Lease Accounting Manager to complete the process.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, select Lease Variation from the Actions drop-down.
Click Perform Action.
In the Lease Variation pop-up, input the Date change was known.Note: This should be a payment period start date.
Click Lease Variation.
In the next Lease Variation pop-up, click Add Review in the Review section.
In the pop-up, select Cost Adjustment as your Review Type.
In the Select Adjustment Date pop-up, in put the payment date again. This should be the same date you chose for the Effective Date of the vary lease.
Click Continue.
In the Other Actioned Costs section, click in the Payment field for the cost line item associated with your rent. Enter the new payment amount and click the Calculator icon.

Note: Note: You must put the entire new payment amount, not the difference, since you cannot input a negative number.

Note: If the Tax Rate is updated, you must click the Calculator icon again in the Payment field to ensure accurate tax amount is calculated in the Tax Amount field. Similarly, if the Payment amount is edited, you should click the Calculator icon again to ensure the accurate tax amount is calculated in the Tax Amount field.
If you want an invoice generated for this change in payment, click Add New Recurring Invoice and then use the arrows to drag and drop your cost line item.
Verify the dates are correct and reflect the payment date or first day of the payment period.
Populate the Description for the invoice.
Select the Invoice Type and Invoice Group.
Input any relevant Notes. It is recommended that you input the reason for the cost adjustment and for which payment period it is.
Click Okay.
In the Lease Variation pop-up, click Add Review again. This will add the second cost adjustment to put the rent back to the original amount in the period after the change.
Select Cost Adjustment as the Review Type.
For the Adjustment Date you’ll input the first day of the next payment period, when the rent goes back to normal.
Click Continue.
Verify the Effective Date and select the rent cost line item.

Note: If you don’t see the rent cost line item, click Add Existing Costs, and select the appropriate cost. If you created a recurring invoice, the cost will populate the recurring invoice section.
Click in the Payment amount field and input the original rental amount and click the Calculator icon.

Note: If the Tax Rate is updated, you must click the Calculator icon again in the Payment field to ensure accurate tax amount is calculated in the Tax Amount field. Similarly, if the Payment amount is edited, you should click the Calculator icon again to ensure the accurate tax amount is calculated in the Tax Amount field.
In the Notes section, indicate that you are adjusting costs back to the original amount after a one-time decrease.
Click Okay.
Back on the Lease Variation pop-up, both Cost Adjustments should be present. Input detailed Comments about the Cost Adjustments to keep track of changes you’ve made.
Click Save.
Click Close on the confirmation pop-up.
Status will change to ACTION REVIEW – Pending Real Estate Approval.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to ACTION REVIEW – Synchronized.

Recurring Increase in Payment

Scenario: You entered a contract without any reviews, only Commencing Costs, and now your rent is increasing for a reason other than a change of CPI.

To make this payment change in Real Estate Manager, you will use the Lease Variation action to add and then action a Market Review and then synchronize with Lease Accounting Manager.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, select Lease Variation from the Actions drop-down.
Click Perform Action.
In the Lease Variation pop-up, input the Date change was known. Note: This should be a payment period start date.
Click Lease Variation.
In the next Lease Variation pop-up, click Add Review in the Review section.
In the pop-up, select Market Review as your Review Type. Note: Typically, Market Reviews would be used when the costs of a contract, like your rent, would need to be re-evaluated based on certain market conditions. However, within Real Estate Manager, Market Reviews are used to change existing costs on a contract when you didn’t know those exact costs at lease inception.
In the Add Review pop-up, in put the payment date again as your Review Date. This should be the same date you chose for the Date change was known of the lease variation.
Leave Review State as Pending.
Indicate the date you knew about this change in payment in the Date change was known field.
Click on Select Cost to Review.
Select All Costs then click Okay.
Input any of the percentages for the payment:
1. Cap % - Maximum percentage change
2. Collar % - Minimum percentage change
3. Est % - Estimated percentage change
4. Plus % - optional flat plus percentage change
Enter any relevant Notes.
Click Okay.
Back on the Lease Variation pop-up, the Market Review should be present.
Click Action for the review you just entered.
In the Action Review pop-up, verify the Review Date and Effective Date.
Click in the Payment Amount field and change as necessary to reflect the accurate payment amount.
Click the Calculator icon to ensure per annum population.
Click Okay.
Click Save on the Lease Variation pop-up and then click Close on the successful confirmation pop-up.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to VARY LEASE – Synchronized.

Scenario: You entered a contract with Market reviews for future possible increases, and now your rent has increased, and you need to record the actual new rental amount.

To make this payment change in Real Estate Manager, you simply need to action the review and update the payment amount to reflect the actual. Then go through the synchronization process with Lease Accounting Manager.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, look for your review along the right side of the workspace. Click the Action Review link.
In the Action Review pop-up, verify the Review Date and Effective Date.
Enter the Date change was known.
Click in the Payment Amount field and change as necessary to reflect the accurate payment amount.
Click the Calculator icon to ensure per annum population.

Note: If the Tax Rate is updated, you must click the Calculator icon again in the Payment field to ensure accurate tax amount is calculated in the Tax Amount field. Similarly, if the Payment amount is edited, you should click the Calculator icon again to ensure the accurate tax amount is calculated in the Tax Amount field.
Enter any relevant Notes.
Click Action Review.
Status will change to ACTION REVIEW – Pending Real Estate Approval.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to ACTION REVIEW – Synchronized.

Scenario: You entered a contract without any reviews, only Commencing Costs, and now your rent is increasing due to a change in the Consumer Price Index (CPI).

To make this payment change in Real Estate Manager, you will use the Lease Variation action to add and then action a CPI Review and then synchronize with Lease Accounting Manager.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, select Lease Variation from the Actions drop-down.
Click Perform Action.
In the Lease Variation pop-up, input the Date change was known. Note: This should be a payment period start date.
Click Lease Variation.
In the next Lease Variation pop-up, click Add Review in the Review section.
In the pop-up, select CPI Review as your Review Type.
In the Add Review pop-up, in put the payment date again as your Review Date. This should be the same date you chose for the Date change was known of the lease variation.
Leave Review State as Pending.
Indicate the date you knew about this change in payment in the Date change was known field.
Input any of the percentages for the payment:
1. Cap % - Maximum percentage change
2. Collar % - Minimum percentage change
3. Est % - Estimated percentage change
4. Plus % - optional flat plus percentage change
Enter any relevant Notes.
Click Okay.
Back on the Lease Variation pop-up, the CPI Review should be present.
Click Action for the review you just entered.
In the Action Review pop-up, verify the Review Date and Effective Date.
Click in the Payment Amount field and change as necessary to reflect the accurate payment amount.
Click the Calculator icon to ensure per annum population.
Click Okay.
Click Save on the Lease Variation pop-up and then click Close on the successful confirmation pop-up.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to VARY LEASE – Synchronized.

Scenario: You entered a contract based on Consumer Price Index (CPI) with anticipated CPI Reviews every year. A year has passed, and CPI has increased, and you need to update the payment and action one of the reviews.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, look for your review along the right side of the workspace. Click the Action Review link.
In the Action Review pop-up, verify the Review Date and Effective Date.
Enter the Date change was known.
Click in the Payment Amount field and change as necessary to reflect the accurate payment amount.
Click the Calculator icon to ensure per annum population.

Note: If the Tax Rate is updated, you must click the Calculator icon again in the Payment field to ensure accurate tax amount is calculated in the Tax Amount field. Similarly, if the Payment amount is edited, you should click the Calculator icon again to ensure the accurate tax amount is calculated in the Tax Amount field.
Enter any relevant Notes.
Click Action Review.
Status will change to ACTION REVIEW – Pending Real Estate Approval.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to ACTION REVIEW – Synchronized.

Scenario: You entered a contract with Reviews, but they aren’t Market or CPI Reviews.

If you have entered a lease with unactioned reviews that are not Market or CPI and it comes time to action those review to make a payment change, you must use Market or CPI to have the right accounting treatment once the lease is synchronized. To do this, remove the existing review and add a new review that is either Market or CPI, depending on the terms of the contract.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, select Lease Variation from the Actions drop-down.
Click Perform Action.
In the Lease Variation pop-up, input the Date change was known. Note: This should be a payment period start date.
Click Lease Variation.
In the next Lease Variation pop-up, look at the Reviews and Adjustments section. Click Remove on the Review that is the wrong type and in a pending state.
Once the review has been removed, click Add Review.
In the pop-up, select CPI Review or Market as your Review Type. Note: If your contract is based on Consumer Price Index (CPI) then you should be selecting that review type. All other contracts should use Market Review.
In the Add Review pop-up, in put the payment date again as your Review Date. This should be the same date you chose for the Date change was known of the lease variation.
Leave Review State as Pending.
Indicate the date you knew about this change in payment in the Date change was known field.
Input any of the percentages for the payment:
1. Cap % - Maximum percentage change
2. Collar % - Minimum percentage change
3. Est % - Estimated percentage change
4. Plus % - optional flat plus percentage change
Enter any relevant Notes.
Click Okay.
Back on the Lease Variation pop-up, the CPI or Market Review should be present.
Click Action for the review you just entered.
In the Action Review pop-up, verify the Review Date and Effective Date.
Click in the Payment Amount field and change as necessary to reflect the accurate payment amount.
Click the Calculator icon to ensure per annum population.
Click Okay.
Click Save on the Lease Variation pop-up and then click Close on the successful confirmation pop-up.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to VARY LEASE – Synchronized.

Recurring Increase in Payment and New Cost Added

Scenario: You entered a contract without any reviews, only Commencing Costs, and now your rent is increasing for a reason other than a change of CPI and you are adding a new cost (i.e. Operating expenses).

To make this payment change in Real Estate Manager, you will use the Lease Variation action to add and then action a Cost Adjustment for the month prior to the rent change, a Market Review for the month in which the rent changes, and then synchronize with Lease Accounting Manager.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, select Lease Variation from the Actions drop-down.
Click Perform Action.
In the Lease Variation pop-up, input the Date change was known. Note: This should be a payment period start date.
Click Lease Variation.
In the next Lease Variation pop-up, click Add Review in the Review section.
In the pop-up, select Cost Adjustment as your Review Type. When the Select Adjustment Date pops up, select the month prior to the rent change as the Adjustment Date. Click Continue.
Click on Add Existing Cost(s)
Select All Costs then click Okay.
In the Configure Cost Adjustment pop-up, you should see a recurring invoice populated. Click the plus sign to add a new row to this invoice. A new line item will populate.
Enter a Label and new Cost Category for the new cost you are adding. Leave Payment amount as zero, as the cost change is not effective until the next month. Even though you aren’t changing the amount, best practice is to click the Calculator button.Then click Okay.
Now that you are back in the Lease Variation pop-up, click Add Review in the Review section.
In the pop-up, select Market Review as your I.
In the Add Review pop-up, in put the payment date again as your Review Date. This should be the actual date that the payment is increasing.
Leave Review State as Pending.
Indicate the date you knew about this change in payment in the Date change was known field.
Click on Select Cost to Review.
Select All Costs then click Okay.
Input any of the percentages for the payment:
1. Cap % - Maximum percentage change
2. Collar % - Minimum percentage change
3. Est % - Estimated percentage change
4. Plus % - optional flat plus percentage change
Enter any relevant Notes.
Click Okay.
Back on the Lease Variation pop-up, the Market Review should be present.
Click Action for the review you just entered.
In the Action Review pop-up, verify the Review Date and Effective Date.
Click in the Payment Amount field and change both cost categories as necessary to reflect the accurate payment amount.
Click the Calculator icon to ensure per annum population.
Click Okay.
Enter any relevant Comments then click Save on the Lease Variation pop-up and then click Close on the successful confirmation pop-up.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to VARY LEASE – Synchronized.

Payment Changes when Tax Rates are Updated

Scenario: You’ve updated your tax rates based on a specific effective date and any payments on contracts associated with that tax rate need to be updated.

If you have updated the tax rate from a specific effective date in the system, then you must add a Fixed Amount review with the review date being the same as the effective date of the tax rate. Once the contract is saved, synchronize the contract with Lease Accounting Manager. This will ensure the tax amounts are calculated based on the appropriate tax rates resulting in the accurate tax amount on invoices and payments.

Search for your contract by entering the Contract Reference number in the Top Search Bar.
Once in the Asset and on the Contracts tab, select Lease Variation from the Actions drop-down.
Click Perform Action.
In the Lease Variation pop-up, input the Date change was known. Note: This should be the effective date of the tax rate change.
Click Lease Variation.
In the next Lease Variation pop-up, click Add Review in the Review section.
In the pop-up, select Fixed Amount Review as your Review Type.
In the Add Review pop-up, input the effective date of the tax rate change as the Review Date. This should be the same date you chose for the Date change was known of the lease variation.
Leave Review State as Pending.
Click on Select Cost to Review.
Select All Costs then click Okay.
Select the Jurisdiction, tax rate and enter the payment amount. Click the Calculator in the payment amount field which will populate the tax amount.
Enter any relevant Notes.
Click Okay.
Back on the Lease Variation pop-up, the Fixed Amount Review should be present.
Click Action for the review you just entered.
In the Action Review pop-up, verify the Review Date and Effective Date.
Click in the Payment Amount field and change as necessary to reflect the accurate payment amount.
Click the Calculator icon to ensure per annum population and the tax amount.
Click Okay.
Click Save on the Lease Variation pop-up and then click Close on the successful confirmation pop-up.
To synchronize the contract, go to Management from the Top NavBar and select Lease Accounting Synchronization Management.
Once in the Lease Accounting Synchronization Management workspace, click Next twice to get to step 3 of 4.
In Step 3 are a list of contracts that have been submitted but are pending approval. Find the relevant Contract Reference number and click the blue Review and Approve hyperlink.
Verify all information is correct in the pop-up and click either Approve, or if there is incorrect or missing data, click Decline.
If approved, click Next to go to Step 4. If declined, corrections need to be made within the contract.
Check the box next to the Contract that has been approved and is ready to be synchronized. You may check multiple boxes if you have multiple Contracts ready to synchronize.
Click Complete Synchronization Process to initiate the synchronization. When synchronization is complete, a confirmation box will appear at the top of the workspace indicating how many contracts were successfully synchronized. Once successfully synchronized, no further action is required in Lease Accounting Manager and the status within Real Estate Manager will change to VARY LEASE – Synchronized.