Returning an asset
Whenever an asset is leased for the long term, the lessee will be "the owner" of the asset. The asset can be returned to the lessor after the contract period. To register the return of assets in Planon, you can use a status transition. This status transition marks the definitive end of the agreement between the lessee and the lessor.
The following procedure describes how to register the asset return by changing the status.
Procedure
1. Go to Contracts.
2. Select a lease contract for which the asset of the related contract line must be returned.
3. Go to > .
4. Select a contract line for which the related asset must be returned.
On the action panel, there are two statuses available, Expired and Terminated. To return an asset, it must have either one of these end statuses.
5. The Return of asset status is enabled on the action panel. Select this status to return the asset to the lessor.
 | The Return of asset status is only available for lease contract lines. |
 | Once a contract line has the Return of asset status, you can no longer change the contract amount. |
◦ Every contract ends with an End of Lease Commitment (ELC). The ELC holds the final postings for the lease.
◦ Postings are created to register accumulated depreciation.
◦ Any open liability is recorded as Suspense account - expense (ESUSP).
◦ The right-of-use and accumulated depreciation are recorded. In case of a purchase option, the open right-of-use at the end of the lease is recorded as Transferred right-of-use (TRANS_ROU). The right-of-use is balanced with the accumulated depreciation and the transferred right-of-use.
◦ The Gain/loss (GALO) is recorded, based on the open right-of-use and the open liability (in case of a final record after an early termination without remeasuring the lease).