Real Estate Classic Question (General Contract - Term End Date)
Hi there. I wonder if there is anyone who could answer this question for me.
I am currently using RE Classic and I am having a problem capturing the true end date of a lease (General Contract).
We are currently driven by the date of when the GC is paid up to and is causing us problems when it comes to reporting.
Hopefully my example might help:-
The Start Date of the Lease is 01.04.2009
The End Date of the Lease is 31.03.2011 (This is the date held in the Resubmission - Lease Expiry)
We want to bring the Lease to a close due to ending our agreement early. The date of this is 31.03.2010.
However due to the fact we have paid in advance up to the 31.03.2011 I cant enter the date of 31.03.2010 otherwise this will create follow up postings.
The problem I now have, is that I want to run a report with all my current Leases (General Contracts) but this one still appears because the End Date in the system is 31.03.2011, even though we have ended on the 31.03.2010. (The report is assuming this GC is still live)
Has anyone else experienced this problem? Or do I need to explain this in more detail?
Any help would be greatly appreciated.
Thanks
JD
Thanks for your reply Diane.
The problem is two fold. Putting in the actual date of the lease ending is causing follow up postings in the cash flow, hence the reason we have been advised to put in the date of the final posting date. (and not the true expiry date)
And on both Standard and ABAP reports the problem it causes is due to the date of the contract end being set to the final posting date.
The reports look at today being the 8th June and sees that this contract is live because we haven't reached the final posting date. So effectively this lease has ended but because the final posting date is say 30.11.2010 it will stay on the reports until the 1st December then it will drop off.
Hopefully I have explained this clearly for you. If not please say.
Thanks
JD
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