How to register planned extensions and stops

You can extend your IFRS 16 contracts or finish them after a renegotiation with your customer/supplier.

Note!
For sudden and unforeseen stops, go to How to register sudden and unforeseen terminations.

Let's say your contract partner signed an extension with 12 months today, effective from January next year.

Under Contracts, open the related contract in editing mode.
Scroll down to the Contract duration section and tick Exercise next to current contract period.
Tip! This checkbox is only displayed if you ticked This contract has an extension option before.
Scroll down to the Lease section and click Add reassessment.
1. Enter a Description of the change.
2. Under Date, enter the period the change was agreed on (in this example the current period).
Save.

The contract is now correctly extended.

Let's say you today agreed with your contract partner to shorten the existing contract with 12 months.

Under Contracts, open the related contract in editing mode.
Scroll down and change the Duration field.
Scroll down to the Lease section and click Add reassessment.
1. Enter a Description of the change.
2. Under Date, enter the period the change was agreed on (in this example the current period).
Save.

The contract duration has been adjusted

Let's say you renegotiated with your contract partner, but today you agreed on stopping the contract with immediate effect.

Under Contracts, open the related contract in editing mode.
Scroll down to the Contract duration section and enter the negotiated end date under Expiration date (or in case of extended contracts End date).
Scroll down to the Lease section and click Add reassessment.
1. Enter a Description of the change.
2. Under Date, enter the period the change was agreed on (in this example the current period).
Save.

The contract duration has been adjusted

How to extend the contract?