Lease Contract Terminations

Lease Contract Terminations

Please see attached documentation for instructions on how to perform basic Lease Asset Disposals / Equipment Disposals.


Instructions provided for the following basic tasks.  Each example is walking through the termination of a Lease Contract, therefore disposing of all Active pieces of equipment left on the contract.  This is not discussing asset disposals for Loan Collateral.  This is only discussing Lease Equipment disposals in regards to Terminating the Lease Contract.
  1. Lease Payoff Quotes
  2. Lease Contract Termination - Sale 
  3. Lease Contract Termination - Abandon
  4. Lease Contract Termination - Rollover
  5. Lease Contract Termination - Inventory

    • Related Articles

    • Lease Asset Disposals

      Please see attached documentation for instructions on how to perform basic Lease Asset Disposals / Equipment Disposals. Instructions provided for the following basic tasks. Each example is walking through disposing of one Lease equipment record, ...
    • Full Termination - Lease

      See the attached document for complete details. See the attached document for step by step instructions on terminating a lease.
    • Updating equipment status when calculating a contract payoff

      Please see the attached document to learn how to update equipment status when processing a payoff. When you are calculating a contract payoff, it is easy to update the status of the associated equipment at the same time. The attached PDF outlines ...
    • Sell an asset out of Inventory

      The attached file will walk you through selling an asset directly out of Inventory.
    • Processing Partial Termination on Non-Accrual Direct Finance Lease

      This article was derived from a Community Posting asking the question - How do we process a partial termination on a Non-Accrual contract and what should we expect ASPIRE to produce for journal entries? Attached are the journal entries for the ...