Financial event registration
Many events occur during the life span of a contract line. In order to understand which postings are created based on which event and also for auditing reasons, Planon registers the events at the Financial event registration step. Whenever a financial event is triggered, the posting(s) created is (are) linked to this event.
The Financial event registration step displays the events that occurred on the contract line and the date from which the commitments are impacted only after the contract line is moved to the active status.
The following is logged:
• Modification date-time
• For amount changes the event registered is the Amount change and the old amount and new amount are shown
• For remeasurements the old and new discount rate are shown
• For contract options: when applying, cancelling or toggling options, the old and new end date are shown
• For impairments the old and new percentage are shown
• The event registration has a reference to the special accounting commitment that reflects the change, so you can directly review the impact
Overview of financial events
Code | Description | When triggered? | ||
|---|---|---|---|---|
INITIAL | Initial | If you set a contract line to Active. | ||
AMOUNT_INC | Amount increase | If you increase the amount that is registered on the contract line with the Add modification action or with a renewal option (via the fields Offset amount at renewal or New amount at renewal). | ||
AMOUNT_DEC | Amount decrease | If you decrease the amount that is registered on the contract line with the Add modification action or with a renewal option (via the fields Offset amount at renewal or New amount at renewal). | ||
CORRECTION | Difference in commitments after recalculation | If you recalculated commitments and the recalculation contains a difference in commitments. | ||
DELETE | Delete closed lease contract line | If you deleted a closed lease accounting contract line (after financial / accounting closure). | ||
INDEXATION | Indexation | If you indexed a contract via Planon's built-in indexing feature or if you used the Add indexed amount manually action to manually register indexed amounts in Planon (see Manually adding an indexed amount).
| ||
ELS_CORR | Economic life span correction | After activating a lease line, you can still enter or change the economic life span. Planon creates an accounting commitment type ELS, Economic life span and registers an event. The depreciation is recalculated, taking into account the new economic life span. For more information on accounting commitment types, see Accounting commitment types. | ||
LI_CORR | Lease incentive correction | If you registered or changed a lease incentive after the activation of a lease contract. The right-of-use is recalculated as if the lease incentive had been entered from the start of the lease. | ||
IDC_CORR | Initial direct cost correction | If you registered or changed the initial direct cost after the activation of a lease contract. The right-of-use is recalculated as if the initial direct cost had been entered from the start of the lease. | ||
IIC_CORR | Correction of initial installation costs | If you changed the initial installation costs. This change is always processed per the effective date of the contract. | ||
REMEAS | Remeasurement | If you performed a remeasurement on a contract line. For more information, see The REMEAS financial event. | ||
QUANT_DECR | Scope reduction | If you reduce the physical scope of a lease contract, Lease liability and right-of-use asset are recalculated and reduced proportionally. | ||
QUANT_INCR | Scope increase | If you increase the scope of a lease contract. | ||
IMPAIRMENT | Impairment change | If you have performed an impairment on a contract line. | ||
IMP_REV | Impairment reversal | If you have performed an impairment reversal on a contract line. | ||
RESTORCOST | Restoration cost change | If you manually changed the restoration costs in the Restoration costs field. | ||
RESTOR_REM | Restoration costs remeasurement | If you change the discount rate of the restoration costs. | ||
RESIDUAL | Residual value change | If you manually changed the residual value in the Residual value field. | ||
SALE_LB | Sale and leaseback | If you registered a sale and leaseback transaction. | ||
ASSET_RETURN | Return the asset at the end of the lease | If you set a contract line's status from Terminated or Expired to Return of asset. | ||
SHORTEN | Shorten duration of lease contract line | If you shortened the duration of a lease contract line by adjusting the end date. | ||
UNDO_TERM | Undo termination | Terminated or expired lease contracts and service contracts can be activated. When reactivating, the UNDO_TERM event is created for lease contracts. | ||
UNP_CORR | Correction of upfront non-refundable payment | If you registered or changed the upfront non-refundable payment after the activation of a lease contract. The right-of-use is recalculated as if the upfront non-refundable payment had been entered from the start of the lease. | ||
URV_CORR | Correction of unguaranteed residual value | If you registered or changed the unguaranteed residual value after the activation of a lease contract. The right-of-use is recalculated as if the unguaranteed residual value had been entered from the start of the lease. | ||
Renewal options | ||||
RENEWAL | Exercise renewal (set status to Applied) | If you exercised a renewal option (and not only switched from 'not reasonably certain' to 'reasonably certain'). | ||
ADD_CER | Add certain renewal | If you add a renewal option and activate it (provided the option becomes reasonably certain). | ||
TO_CER | Set renewal option to certain | If you change a renewal option from 'not reasonably certain' to 'reasonably certain'. | ||
TO_NOTCER | Set renewal option to not certain | If you change a renewal option from 'reasonably certain' to 'not reasonably certain'. | ||
EXE_NEWCER | Execute new certain renewal | If you add a renewal option, execute it within one accounting period and additionally the option is 'reasonably certain'. | ||
Termination options | ||||
TERMINATE | Exercise termination (set status to Applied) | If you exercised a termination option (and not only switched from 'not reasonably certain' to 'reasonably certain'). | ||
ADD_TERCER | Add certain termination option | If you add a certain termination option. | ||
TER_CER | Set termination option to certain | If you change a termination option from 'not reasonably certain' to 'reasonably certain'. | ||
NOT_TERCER | Set termination option to not certain | If you change a termination option from 'reasonably certain' to 'not reasonably certain'. | ||
Shortening options | ||||
EXE_SHORTEN | Apply shortening option | If you applied a shortening option and the actual end date of the lease contract line is adjusted. | ||
Purchase options | ||||
PURCHASE | Exercise purchase (set status to Applied) | If you exercised a purchase option. | ||
ADD_PURCER | Add certain purchase option | If you add a certain purchase option. | ||
PUR_CER | Set purchase option to certain | If you change a purchase option from 'not reasonably certain' to 'reasonably certain'. | ||
NOT_PURCER | Set purchase option to not certain | If you change a purchase option from 'reasonably certain' to 'not reasonably certain'. | ||
