Lease Extension

Summary:

When a lease is extended via Manage Leases (or Lease Amendment), should the corresponding lease asset's depreciation period automatically update, or is a separate action required to extend the depreciation period in the Assets module.

once the extension is set up, how do we adjust the depreciation period for the related asset?

• We observed the depreciation period number was not initially aligned to the leased months (it seemed to default to the Asset Category's standard years/months). While we were able to tweak/correct this once before saving the asset, the period became locked afterward because it was a leased asset.