Add Lookup Change Delete

Like-Kind Exchange [U0237]

LeasePak menu: Updates, Maintenance [U02]
Corresponding End of Period process: None

Update for adding, finding, changing, and deleting Like-Kind Exchange records.

This update is part of the Like-Kind Exchange module. For more information on other functionality available with this module, refer to the overview document Like-Kind Exchange.

 Asset Focus Module: users can add, lookup, change or delete Like-Kind Exchange records for AFM assets through this update.

Add

The update will first display the initial selection criteria window:

When the field Exchange ID is blank, only the Add and Done choices are available.

Without entering any data into the Exchange ID field, the user can either click Add to create a new Like-Kind Exchange record, or click to use the expanded search (see Asset Lookup and Expanded Search).

The user can click Done to exit the Like-Kind Exchange update.

The program first displays the key fields input window:

Like-Kind Exchange Key Fields

Exchange ID

(Required)

This is a 20-character alphanumeric field. There are no edit checks for the user's input to this field, and no lookup or help is available.

This number represents the identification for the exchange, but since one exchange ID can involve several relinquished assets, the record key requires the combination of the exchange ID + relinquished asset number.

Asset

(Required)

This is a 10-character alphanumeric field for the asset number. The user can enter the asset number or click to use the standard existing LeasePak Asset Search. The asset number the user enters must be:

• An existing asset in LeasePak
• Previously on lease
• Terminated
• In inventory
• Not sold

When the user fills in these two fields and clicks OK, the program checks to see if a matching record (primary record key is exchange ID + relinquished asset number) already exists in the table. If so, the program displays the following message:

Where <exchange_id_s + relinq_unit_s> is the key of the matching record. If the user clicks OK, the program retrieves the matching record and proceeds to the record update window (see below). If the user clicks Cancel (the default choice), the program will return to the key fields window, allowing the user to enter a different exchange ID/relinquished asset number combination.

After the user provides an exchange ID and asset number for the record key, the program displays the record update window. This window serves for both the Add and Change options of the update:

Relinquished Asset Fields

Once the user enters an exhange ID and relinquished asset number in the key fields window, these fields are display only in the main Add/Change window.

Lease

(Display Only)

Displays the lease number of the relinquished asset.

Relinquishment Date

(Required)

The date on which the lessor receives funds for the relinquished asset. This is usually, but not always, the same as the relinquished asset's Termination Effective Date. The user can enter a date in MM/DD/YY or DD/MM/YY, according to the user's Date Format Preference, or right click the field to use the Calendar function.

NAICS

(Optional)

The North American Industry Classification System (NAICS) code of the relinquished asset. This is a 6-character alphanumeric field with no help or lookup.

Lessee

(Display Only)

Displays the lessee number of the relinquished asset.

Replacement Asset Fields

Identification Date

(Optional)

The date on which the lessor identifies the replacement asset for the exchange. This is usually, but not always, the same as the replacement asset's In-Service Date, and must be within 45 days of the relinquishment date. The user can enter a date in MM/DD/YY or DD/MM/YY, according to the user's Date Format Preference, or right click the field to use the Calendar function.

When the user inputs an identification date and attempts to save the record, the program will perform an edit check to verify that the input date is not later than 45 days after relinquishment date. If the edit check fails, the program will display a warning message and not allow the user to save the record with an invalid identification date.

Asset

(Optional)

The replacement asset number. This is a 10-character alphanumeric field for the asset number. The user can enter the asset number or click to use the standard existing LeasePak Asset Search. The asset number the user enters must be:

• An existing asset in LeasePak
• Not sold

Lease

(Optional)

The lease number of the replacement asset. This is a 10-character alphanumeric field. The user can enter the lease number or click to use the standard existing LeasePak Lease Search by Lessee.

If the user enters a lease number that does not exist, the program displays the following message:

This does not prevent the user from entering the lease number or the update from saving it to the rlk record.

If the user enters an existing lease to which the replacement asset is not attached, the program displays the following message:

Again, this does not prevent the user from entering the lease number or the update from saving it to the rlk record.

NAICS

(Optional)

The North American Industry Classification System (NAICS) code of the replacement asset. This is a 6-character alphanumeric field with no help or lookup.

Lessee

(Display Only)

If the user enters a lease number for the replacement asset and the lease number exists, this displays the lessee number for that lease.

Exchange Information Fields

Last Updated

(Display Only)

The date on which the rlk record was last updated.

Status

(Required)

The status of the exchange. The user can type in the 4-character status code or use to select from the list. The user can set up Like-Kind Exchange statuses through Custom Code [U0722] using the code category LKE.STAT.

Deferred Gain

(Optional)

The user can enter a numeric dollar amount representing the proceeds from sale minus the tax book value of the asset. This field is not part of any LeasePak calculation or process.

Proceeds

(Optional)

The user can enter a numeric dollar amount representing the proceeds from the sale or buyout of the asset. This field is not part of any LeasePak calculation or process.

Comments

(Optional)

This is an 80-character alphanumeric field in which the user can type comments pertaining to the exchange.

Add/Change Correspondences

The following shows how the Like-Kind Exchange update fields correspond to LeasePak database columns from the rlk Like-Kind Exchange table:

Update Field	rlk Column
Relinquished Asset: Exchange ID	exchange_id_s
Relinquished Asset: Asset	relinq_unit_s
Relinquished Asset: Lease	relinq_lse_s
Relinquished Asset: Relinquishment Date	d_relinq_s
Relinquished Asset: NAICS	relinq_naics_s
Relinquished Asset: Lessee	(reference only; does not map to rlk)
Replacement Asset: Identification Date	d_ident_s
Replacement Asset: Asset	replace_unit_s
Replacement Asset: Lease	replace_lse_s
Replacement Asset: NAICS	replace_naics_s
Replacement Asset: Lessee	(reference only; does not map to rlk)
Exchange Information: Last Updated	d_last_s
Exchange Information: Status	exchange_stat_s
Exchange Information: Deferred Gain	dfrd_gain_d
Exchange Information: Proceeds	pro_sale_d
Exchange Information: Comments	comment_s

Asset Lookup and Expanded Search

Asset Lookup

To use the asset look-up, the user needs to enter an Exchange ID into the initial selection criteria window:

When the user enters an Exchange ID by itself, only the Delete and Done choices are available, because more than one asset can belong to an Exchange ID.

The user can either type a relinquished asset number (rlk.relinq_unit_s) that belongs to the Exchange ID in the Asset field or click to retrieve a list of corresponding relinquished assets:

Once the user has entered both the Exchange ID and asset number, the update makes the Change option available in addition to Delete and Done:

Expanded Search

At any time, the user can click from the initial selection criteria window:

This will start the expanded search:

If the user has entered part of the exchange ID, the program will run an initial search based on that information. The user can then select from that retrieval or enter different selection criteria and click Retrieve to run a different search.

Selection Criteria Fields

Exchange ID

(Optional)

The user can enter either the full exchange ID or the first few characters (any number of characters up to the full length of the ID) for partial matches.

Asset

(Optional)

The user can either enter the asset number or click to use the standard existing LeasePak Asset Search.

Lease

(Optional)

The user can either enter the lease number or click to use the standard existing LeasePak Lease Search by Lessee.

Relinquishment Start Date

(Optional)

The user can enter the start of a date range for the relinquishment date, the date on which the lessor receives funds for the relinquished asset. This is usually, but not always, the same as the relinquished asset's Termination Effective Date. The date range includes the Start Date.

Relinquishment End Date

(Optional)

The user can enter the end of a date range for the relinquishment date, the date on which the lessor receives funds for the relinquished asset. This is usually, but not always, the same as the relinquished asset's Termination Effective Date. The date range includes the End Date.

Lessee

(Optional)

The user can enter the lessee number or click to use the standard existing LeasePak Client Search.

After putting in the selection criteria, the user will click Retrieve to see a list of matching records (if any):

The user can then highlight the record to change and click Select. The program will return to the initial selection criteria window with the selected information:

From here, the user can click Change to modify the Like-Kind Exchange record or Delete to remove it.

Change

The user must first enter an Exchange ID and asset number to make the Change option available. Then, when the user clicks Change, the program will proceed to the record update window. Refer to the Add section for the illustration and field descriptions.

Delete

This option allows the user delete record of linke-kind exchange:

The program will ask for a confirmation before deleting the specific record:

 

 

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