Once you decide to migrate to Soft4Lessee, you'll have to enter your current lease data into our specialized data template, which will later be imported into the system. To avoid common pitfalls, read the notes below and keep them in mind when filling in the template!

Mandatory fields

In the lease data template, you'll encounter fields either marked Mandatory or Optional. Mandatory fields will be highlighted red. Once you fill them in, they'll turn green. You'll have to at least fill all Mandatory fields before submitting the data template back for the initial review.

Once all Mandatory fields are correctly filled in, the whole row will be highlighted green. That means you're good to move on!

Migration balances

In the Migration section of the template, you'll have to fill in your lease balances as of migration date.

There are four main fields of the Migration section. Here's what they all refer to:

• Migration Date - The date of migration. You'll have to fill in your lease balances based on this date. You can have different migration dates for different leases if it is needed.
• Carrying Value of Lease Liability on Migration Date - The opening balance of lease liability on migration date.
• Historical Asset Cost - Includes the commencement cost and all subsequent remeasurements of the lease.
• Accumulated Depreciation on Migration Date -  The opening balance of depreciation on migration date.

Filling in relevant fields

Let's review important or other (sometimes dismissed) fields that you may be unsure of.

• Commencement Date - Date, from when the lease agreement starts. This is the date all system calculations will take place from.
• Contractual Lease Term - Lease term in months.
• Estimated Ending Date - Date, on which the lease agreement ends.

• Payment Due (In Arrears, In Advance) - Specifies if payment is due at the beginning or end of rental period. Set this responsibly, as this field is also responsible for how interest is calculated!
• First Instalment Date - Date, when the first lease payment is due. This will likely be the same as Commencement Date if using In Advance payments or end of first period if using In Arrear payments.
• Lease Currency - The currency used for the lease. Leave this field blank if it's using local currency. Only specify currency on leases that use foreign currency (aka., you are using more than one currency).
• Pro-Rata - Defines whether the first or both the first and last payments should be calculated proportionally to the lease period. For example, if a lease is signed in the middle of the month (assuming monthly periods), only half of the payment is due. If this applies only to the first period, select First Period. If it applies to both the first and last periods, select First and Last Period. Read more about it here.
• Irregular Payments - Select True if your Payment Schedule doesn't follow a specific pattern. Once selected, no other fields in the Instalments section will apply, and you'll have to define your own manual Payment Schedule in the template sheet Payment Schedules, or define it when already uploaded into the system. Read more about irregular payments here.
• Rent Free From Period No. and Rent Free To Period No. - Fill in if your lease contains a sequence of periods where no payment is due. You can only define one rent free period sequence in a lease. To define multiple rent-free period sequences, select the Irregular Payments option and define the Payment Schedule manually in the template sheet Payment Schedules.

Other

If you encounter any issues or are unsure about some parts of filling in the data, don't hesitate to reach out to system consultants. We will try to help you out to the best of our ability and may expand this article if needed!