When should leases be deleted?
A lease should only be deleted when all reporting requirements have been met
While you may want to delete an expired lease right away, it's important to think about leases in terms of annual reporting requirements. For example, if a lease expires in June and is deleted prior to the December fiscal year end, the Footnote Disclosure exported at year end will not include the deleted lease as part of the calculations.
IMPORTANT
Expired leases should only be deleted after financials for the year are issued.
Notes about Deleted Leases
Deleted leases can be viewed, restored*, and cloned, and are not included in reports.
*Revisions that have been deleted cannot be restored.
If deleted leases are restored, previously unbilled years will become due.
A deleted lease is not permanently deleted from Crunchafi Lease Accounting. The status is changed to Deleted and it is removed from the default view. You can, however, view the list of deleted leases by using the Lease Status filter on the My Leases page.
NOTE
If a lease is terminated early, it should be revised to record the change (not deleted). See our Revision Guidance for additional information.
When Leases Should be Deleted
When a lease expires, it should remain in Complete status until fiscal year end reporting is completed. Once the reporting requirements are met, users can move it to Deleted status.
Many organizations are making this part of their fiscal year end process.