The Amend function is used to make changes to a lease once it has been added to your portfolio
When amending an existing lease, you can select the date that the information in the original entry will change, OR, in the case of a mistake, you can override all past data. Both options will require the same steps as Lease Entry.
Selecting an effective date of change will result in a Lease Modification. If you select an effective date of change, you may enter the date when there was a change in the scope of the lease that was not part of the original terms and conditions. This will lock all financial data prior to the effective date and recalculate financials from the effective date onward. Modifying your lease as of an effective date will require a new evaluation of fair value to be performed.
If you override past financial data, you are selecting to make edits to the lease as if you are correcting an error that was made during lease entry. If financial information is altered, the entirety of the amortization schedule will be affected.