When Should Leases be Deleted?

While you may be tempted 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.

Wait to delete expired leases until after financials for the year are issued.

Notes about deleting leases

Deleted leases can be viewed, restored* and cloned. They can not be included in reports.

*Revisions that have been deleted cannot be restored.

If deleted leases are restored, previously unbilled years will become due.

Deleted leases are not permanently deleted from LeaseCrunch software. When a lease is deleted, it is changed to a Deleted status. You can view a list of leases in Deleted status by selecting 'Deleted' from the Lease Status dropdown on My Leases.

When a lease is terminated early, it should be revised, not deleted. See Revision Guidance.

When should leases be Deleted

When a lease expires, it should remain in Complete status until fiscal year end reporting is complete. Once the fiscal year end reporting is complete, users can place leases in deleted status.

Many organizations are making this part of their fiscal year end process.