How to register sudden and unforeseen terminations

If the contract shall be terminated during the lease period because a sudden and unforeseen event (e.g. because the contract was created based on a mistake), use the Deviating termination date. The system will in this case create a termination settlement based on the remaining obligations and right of use at the termination date. The difference will be posted to the balance.

Tip!
For planned, negotiated changes, see How to register planned extensions and stops.

How to terminate a contract during the lease period

Go to Contracts. Find the contract you want to terminate in the list and click Edit.
Under Contract duration, switch Unexpected termination or error in the contract? to Yes.
Enter the Deviating termination date.
You will now get a notification that you did a termination settlement. Under the Lease section, a line with the termination settlement is created. For details about the difference between the lease liabilities and right of use, click View detailed calculations.
Click Save.

The contract is now terminated. The ending balance i no longer equal to zero. Gross numbers are included into the IFRS 16 report, postings for profit and loss (gain or loss asset) are in the Journal report. Read more under IFRS 16 Reports.

Tip!
If you have entered this information by mistake, you can switch Unexpected termination or error in the contract? to No again and save the contract. The payment schedule will be updated accordingly.