Lease contract

• Company (field CPY)

This field cannot be entered. It displays the company to which the financial site is attached.

• Financial site (field FCY)

This mandatory field is used to enter the financial site in which the contract is recorded.

The choice of the financial site is submitted to management and authorization rules given to the user.
The site cal also be automatically loaded, by default, with the financial site reference previously displayed. It is possible to activate/deactivate this load by default, via the setup REMAFCY -  Persistence of the site, defined in the AAS chapter - Fixed assets.

 If the user is single site, the financial site is automatically loaded and cannot be modified.

• Reference (field LEAREF)

The reference, composed of 20 alphanumerical characters max., is used to identify, in a unique way, a financial leasing contract for a given company.
The management of the contract reference is carried out according to the value of the LEAAUTNUM - Lease contract numberingsetup:

• This reference must be entered if automatic numbering is not managed (the setup has Nonefor value).
• It cannot be entered if the setup has value: Mandatory. This reference will be automatically assigned when validating the creation.
• It can be entered if the automatic numbering is Optional. Otherwise, it will be automatically assigned.

The reference assigned to the asset is the function of the setup of the sequence number counter assigned to the Contract reference field in the Financing module. (Sequence number counter Structure and Sequence number counter assignment functions).

• Description 1 (field LEADES)

This field contains the main description of the contract.

• Description 2 (field LEADES2)

This field contains the additional description of the financial leasing contract.

• Status (field LEASTA)

When creating the contract, its status automatically takes for value: To validate. The assets can be attached to it but it must not be the object of any action.

• Once the user believes that the contract definition is finalized, he/she assigns the status In process to the contract.
  Going from the status To validate to In process, either in creation or in modification, results in:
  - generating a Contract creation event (LEACRT),
  - posting automatically this event by generating an automatic journal: LECRT – Contract creation, designed for the IFRS consolidated accounts.
   
• A contract with the statusIn process cannot be deleted. It cannot be directly modified either. It can only change at the end of the different actions applied to the contract.
  
  Then it takes the value:
  - Complete after implementing the actionEnter the contract end,
  - Buyback after implementing the actionRemove the purchase option,
  - Terminated after implementing the actionTerminate the contract.

• Contract type (field LEATYP)

This field is used to specify if the type of the contract is: Lease or Long term rental.
This information can no longer be modified, even though the contract has the status To validate,once an asset is assigned to the contract
Certain information such as Capital amount, Buyback value, Purchase option removal date are only entered if the contract type is Lease.

• Lessor (field LES)

This is mandatory information. It is the organization which entered into the lease contract. The lessor must be identified as the Supplier in the BP accounting table.

• Bal sht line (field BSENAT)

This field is used to enter the balance sheet line involved in the financial lease contract. This information is notably used for editing the summary reports to attach to the annual accounting reports. These tables (referenced as LEALIA Leasing commitments and LEARNTDPR Leasing Charges and depreciations) indicate the global situation of the lease contracts, grouped and ordered by balance sheet lines. It is mandatory that the balance sheet line be entered for the contract values to be taken into account in these tables.

• Source (field LEAORI)

This field is used to specify the origin of the contract. It can be either a new contract or a transferred contract.

• Nature (field LEANAT)

This field is use to specify the nature (Fixed assets or Movable assets) of the lease contract.

• Start date (field STRLEADAT)

The Start date for the contract is mandatory. It can only be modified whilst the contract has the status To be validated. This modification leads to the deletion of the financial payment schedule. When the contract is for company vehicles and the registration number is entered, it also leads to the update of the lease start date (Financial assets function, option Vehicle).

• End date (field ENDLEADAT)

The end date for the contract is mandatory. It can be modified whilst the contract has the status To be validated.
When the contract status is In process, this date can be updated via the Update the contract action. It can also be updated during the use of the Record the end of contract action.
This update, when the date entered is less than the previous date, leads to the deletion of the financial payment schedule for the due dates later than the new date entered.
When the contract involves company vehicles which registration numbers are provided, it also leads to the update of the lease end date (Vehicle option window of the Financial assets management function).

• Accounting code (field ACCCOD)

The accounting code is mandatory. It is used to define the CoA and IAS/IFRS accounts to be posted when generating the accounting entries related to the rental contract. If the contract status is In process, it can be updated via the Update the contract action.

• Funding currency (field LEACUR)

This field is used to enter the contract financing currency. It remains editable as long as the contract status is: To validate.

• Company currency (field CUR)

This field displays the company management currency, as a reminder.

• IFRS curr. (field IASCUR)

This non-editable field displays the IAS/IFRS context currency.

• Borrowed capital (field LEAAMT)

It is mandatory that the borrowed capital amount should be entered if the contract type is Leasing. This amount must be entered in the contract financing currency. It is automatically converted and displayed:
- in the company currency, after the conversion based on the type of rate defined for the Accounting and fiscal context,
- in the IAS/IFRS context currency, after the conversion based on the type of rate defined for the IAS/IFRS context.
If the contract status is In process, this amount can only be updated using the Revise the contract action. The different revisions of the borrowed capital can be viewed in the Valuation tab.

• Rate (field RATCUR)

This field displays the exchange rate used to convert the borrowed capital amount into the company currency.
This rate is automatically generated via the rate type defined for the Accounting and fiscal context.

• Borrowed capital (field LEAAMTDEV)

This non-editable field displays the borrowed capital amount, converted into the company currency.

• Rate (field IASRATCUR)

This field displays the exchange rate used to convert the borrowed capital amount into the IAS/IFRS context currency.
This rate is automatically generated via the rate type defined for the IAS/IFRS context.

• Borrowed capital (field LEAAMTIAS)

This non-editable field displays the borrowed capital amount, converted into the IAS/IFRS context currency.

• Buy-back value (field RPUVAL)

This field is used to enter the buyback price of the asset(s), at the end of the leasing period during the removal of the purchase option planned for a lease contract.
This date, expressed in the financing currency of the contract, can be updated on a contract In progess, either through the action Update the contract, or through the action Lift purchase option.

• Buy-back value (field RPUVALDEV)

This non-editable field displays the buyback price, converted into the company currency.

• Buy-back value (field RPUVALIAS)

This non-editable field displays the buyback price, converted into the IAS/IFRS context currency.

• Interest rate (field LEARAT)

This field is used to define the interest rate applied to the borrowed capital in the case of a lease contract. This amount is purely indicative, as the payment schedule is not impacted by Sage X3 Fixed Assets.

• Implied interest rate (field IMPLEARAT)

• Incremental borrowing rate (field ICRBRWRAT)

• Advance rent (field BEFRNT)

This field enables entering the amount of advance charges when signing a financial lease contract.

• Application fees (field LEAEXS)

This field is use to enter the preliminary expenses for a lease contract.

• Initial direct costs (field INIDIRCST)

• Restoration cost (field RESCOS)

• Update date (field CUTDAT)

The contract revision date is not modifiable. It is filled in automatically at the end of the launch of the action Revise the contract.

• Option exercise date (field RPUDAT)

This field is used to enter the date of the Purchase option removal planned for a Lease contract. This date can be updated on a contract In progess, either through the action Update the contract, or through the action Lift purchase option.

• Termination date (field TRMLEADAT)

The contract termination date is not modifiable. It is filled in automatically at the end of the launch of the Terminate contract action.

• Distribution (field DSP)

This field is used in creation mode to enter an analytical distribution key, previously defined at the level of the definition function of Analytical distribution keys, which can also be accessed by right-clicking on Distrib.
Entering a distribution key disables the entry of analytical sections.

• Dimension type code (field DIE)

• Analytical dimension (field CCE)

An Analytical dimension is a part of the analytical general ledger accounts. It is divided into Analytical dimension types where each dimension type constitutes a particular breakdown of the company into a set of analytical payment attributes.
The setup of the folder permits the definition of 1 to 9 dimension types.
An analytical dimension is thus an analytical payment attribute within a dimension type. The dimensions of a dimension type represent the Analytical plan of the dimension type.
This field is used to enter the analytical dimension to which the current recording is allocated.

The entry of analytical dimensions can be set to mandatory using the setup carried out at the level of the Company (Accounting tab).
In creation mode, allocations can be initialized with respect to the setup of Default dimensions (FXDASSETS code for assets and expenses, FXDGRANTS for subsidies and FXDLEASE for lease contracts).

• Period start (field STRPERDAT)

This field displays the period start date which the due date deals with. The first period start date must be entered. The following period start dates are calculated by adding a day to the previous period end date.

• Period end (field ENDPERDAT)

This field displays the period end date which the due date is about. The end date of the first period must be entered. The end dates of the next periods are automatically defined as follows:
1/ If the period end date corresponds to the last day of a month, the end date of each of the following periods will correspond to the last day of a month.
2/ If the end date of the first period does not correspond to the last day of a month, each created period will terminate with the same day as the first period. Each created period will have the same number of months as the first period.

• Remaining for reimbursement (field RMNTPA)

This field displays the amount of capital to repay at the beginning of the period concerned by a leasing contract payment. It is expressed in the contract currency.
The balance to repay of the first payment is loaded by default with the capital amount of the leasing contract. It remains modifiable.
The balance to repay of the following payments equals the capital amount of the leasing contract minus the financial depreciation of the previous payments.

• Rental amount (field RNTAMT)

This field contains the amount of the charge due for the rental of the assets referenced in the financial lease contract. It is expressed in the contract financing currency.
This rental charge corresponds to the increased financial depreciation for the financial costs in the period.
 The sum of the bases of the assets linked to the contract must necessarily be lower or equal to the total of the contract charges.

• Financial depre (field FINDPR)

This field enables the user to enter the amount corresponding to the capital refund. This amount, expressed in the financing currency of the contract, must mandatorily be entered if it is a leasing contract.

• Financial cost (field FINEXS)

For Lease contract types, this field displays the financial expenses in the contract currency for a given period, which is equal to the fee minus the financial amortization. You can modify this amount.

For Rent contract types, this field represents the interest portion of the lease payment amount that is already stored in the Rental amount column for each period and month. The value in the Financial cost column is not included when calculating the current values and rights of use. This amount is not calculated from the contract characteristic; you need to enter or import it manually.

• Repaid capital (field RPACAP)

This amount is automatically calculated according to the following formula: Reimbursed capital for the previous period + Financial depreciation for the current period. It can be modified by the user.

• Variable payments (field VARPAY)

• Purchase option price (field PUROPT)

• Resid. val. guarantee (field RSDVAL)

• Penalties (field TERPEN)

• Invoice date (field PAYDAT)

This field enables the user to enter the date of the invoice.
When a date is entered, the open item is not taken into account by the Fee event generation process.

• Invoice ref (field PAYREF)

This field enables the user to enter the description of the invoice.
When a reference is entered, the open item is not taken into account by the Fee event generation process.

• General acct. (field FARFLG)

This tick box cannot be entered by the user. It is automatically activated when the annual fee events dealing with the open item and designed for the CoA accounting have been generated.

• IFRS acct (field FARFLGI)

This tick box cannot be entered by the user. It is automatically activated when the annual fee events dealing with the open item and designed for the IFRS accounting have been generated.

• Funding currency (field LEACUR)

• Charge total (field CUMRNTAMT)

• Year (field PERSTRYEA)

• Index (field NUMYEA)

• Rate (field RATYEA)

• Open item total (field PAYYEA)

• Present value (field CVAYEA)

• Funding currency (field LEACUR2)

• Init. present value (field INIPREVAL)

• Initial right of use (field INIPREUSE)

• Last present value (field CUMCVAYEA)

• Current right of use (field CUMCVAUSE)

• Company Currency (field CUR2)

• Init. present value (field INIPREVALC)

• Initial right of use (field INIPREUSEC)

• Last present value (field CUMCVAYEAC)

• Current right of use (field CUMCVAUSEC)

• IFRS curr. (field IASCUR2)

• Init. present value (field INIPREVALI)

• Initial right of use (field INIPREUSEI)

• Last present value (field CUMCVAYEAI)

• Current right of use (field CUMCVAUSEI)

• Reference (field AASREF)

This field, non modifiable, contains the reference of the financial asset linked to the financial lease contract.

• Description (field AASDES1)

This field cannot be modified and contains the description of the asset.

• Purchase date (field PURDAT)

This field, that cannot be modified, contains the purchase date of the financial asset.

• Receipt value (fin.curr) (field BSEDEVLEA)

This field, that cannot be modified, displays the ex. tax IAS/IFRS entry value of the fixed asset, expressed in the financing currency.

• Receipt value (comp. cur) (field BSEDEVSOC)

This field, that cannot be modified, displays the ex-tax IAS/IFRS entry value of the financial asset, expressed in company currency.

• Receipt val (IFRS cur.) (field BSEDEVIAS)

This non-editabe field contains the IAS/IFRS receipt value ex-tax of the financial asset.

• Receipt value (fin.curr) (field CUMBSELEA)

Total of the asset ex-tax receipt value, expressed in financing currency.

• Funding currency (field LEACUR)

This field displays the contract financing currency, as a reminder.

• Receipt value (comp. cur) (field CUMBSESOC)

Total of the asset ex-tax receipt value, expressed in company currency.

• Company currency (field CUR)

This field displays the company management currency, as a reminder.

• Receipt val (IFRS cur.) (field CUMBSEIAS)

Total of the asset ex-tax receipt value, expressed in IAS/IFRS currency.

• IFRS curr. (field IASCUR)

This non-editable field displays the IAS/IFRS context currency.

• Ias-fees total variance (field DIFRNTBSE)

• IFRS curr. (field IASCUR2)

• Update date (field VCUTDAT)

In the 1st line, this field contains the contract start date, and in the following lines, the date when the revision of the borrowed capital has been done.

• Capital amount (field VLEAAMT)

In the 1st line, this field contains the contract initial amount and in each following line, the variation amount of the borrowed capital.

• Company currency rate (field VRATCUR)

This field displays the exchange rate used to convert the borrowed capital amount into the company currency.
This rate is automatically generated via the rate type defined for the Accounting and fiscal context.

• Capital in company currency (field VLEAAMTDEV)

This non-editable field displays the borrowed capital amount, converted into the company currency.

• IFRS currency exch rate (field VIASRATCUR)

This field displays the exchange rate used to convert the borrowed capital amount into the IAS/IFRS context currency.
This rate is automatically generated via the rate type defined for the IAS/IFRS context.

• Capital in IFRS currency (field VLEAAMTIAS)

This non-editable field displays the borrowed capital amount, converted into the IAS/IFRS context currency.

• field USRFLDA1

This field enables the user to precise the value of a free area of the alphanuméric type which a miscellaneous table can be linked to. 10 areas of this type are available.

• field USRFLDA2

• field USRFLDA3

• field USRFLDA4

• field USRFLDA5

• field USRFLDA6

• field USRFLDA7

• field USRFLDA8

• field USRFLDA9

• field USRFLDA10

• field USRFLDM1

This field enables the user to precise the value of a free area of the amount type, expressed in a parameterisable currency. 6 areas of this type are available.

• field DEVDM1

Currency which the amount is expressed in.

• field USRFLDM2

• field DEVDM2

• field USRFLDM3

• field DEVDM3

• field USRFLDM4

• field DEVDM4

• field USRFLDM5

• field DEVDM5

• field USRFLDM6

• field DEVDM6

• field USRFLDC1

This field enables the user to precise the value of a free area of the coefficient type. 2 areas of this type are available.

• field USRFLDC2

• field USRFLDD1

This field enables the user to precise the value of a free area of the date type. 4 areas of this type are available.

• field USRFLDD2

• field USRFLDD3

• field USRFLDD4

• Entry origin (field CREORI)

This field displays the origin of the record.

• Creation (field CREUSR)

This field displays the user who created (entered) the record.

• Date (field CREDAT)

This field displays the creation (entry) date of the object.

• Modification (field UPDUSR)

This field displays the user that made the last modification on the recording.

• Date (field UPDDAT)

This field displays the last modification date.

• Events (field EVTLIST)

This button opens a window displaying the event log generated for the object.
The list can be limited to the events matching the selection criteria. These criteria correspond to the displayed information: the depreciation plan (if required), the user originating the event, the creation date and time, the effective and posting dates, as well as an indicator specifying if the event has already been posted or not.
 
Special features :

• Change in accounting allocation (FASCHGIMP) and Analytical/geographical transfer (FASAFFAGE) events:
  The icon , placed in the line header, indicates that it is a Main event to which Secondary events are attached. By double-clicking on the icon, the list of events is displayed in the form of a tree structure. (Refer to the description of the Accounting allocation change and Analytical/geo transfer processes).
• Revaluation (FASREEVAL), Change in method(FASMTC) and Production plan change (FASCHGPPL) events, generated on a company submitted to the French legislation (FRA):
  The icon , placed at the end of the line, indicates that the depreciation plan before action has been archived in a dedicated table. It can be displayed from the detailed inquiry of the event (see below Archived plan).

The Details right-click on a line opens a screen displaying the event content, detailed over several tabs:

- The General tab displays the information linked to the creation, modification and posting of an event, with the possibility to move by right-clicking on Details on the journal number to view the Accounting entry created to post the event.
 
- According to its nature, the other information saved on the event is displayed in the Alphanumerical, Numerical, Local menu or Dates tabs.
 
- The Archived plan tab is only loaded for the Revaluation (FASREEVAL), the Change in method (FASMTC) or the Change in production plan (FASCHGPPL) events and only if the asset belongs to a company subjected to the French legislation. In this case, the icon  is displayed along with the depreciation plan to specify that the plan has been archived.
The tab displays the depreciation plan (or the production plan) of the asset as it was before the action that has generated the event (revaluation, change in method or change in the production plan). This information is included in an archiving table (DEPRECARC) which primary key is composed of the event identification information: Type of event (FASMTC, FASREEVAL or FASCHGPPL) and Event time stamp.