Term change
Extension, reduction, revised end date, notice and approved effective date.
The operating question
An email about a change is not a controlled lease event.
A changed term, moved asset, exchange or early return can affect several teams and records. The event needs an effective date, evidence, responsibility, decision and approved downstream action.
What changed and when did it become effective?
Which assets, payments and locations are affected?
Who approves the commercial and accounting consequences?
Can the prior and revised records both be reproduced?
Connected workflow
Control each event before updating the record
- 01
Raise
Record the requested change, affected assets, reason and proposed effective date.
- 02
Assess
Review commercial, operational, accounting, tax, legal and system impact as applicable.
- 03
Approve
Route the decision to the required owners and retain supporting documents.
- 04
Update
Apply the configured change to schedules, assets, locations, obligations and actions.
- 05
Reconcile
Confirm revised records, completion evidence and remaining exceptions.
Connected records
What stays connected
Payment change
Revised rental, frequency, index or other commercial term with source evidence.
Scope change
Added or removed equipment, quantity, capacity or service component.
Asset exchange
Old and new serial numbers, locations, condition, custody and schedule relationship.
Early end term
Return, recovery, termination, settlement, deposit and completion evidence.
Purchase or buyout
Commercial approval, payment, ownership change, asset-register update and closure.
Illustrative example
A damaged unit is exchanged mid-term
Operations records the damaged serial number and replacement. Finance reviews whether the lease terms or schedule change. Both teams retain the evidence and the relationship between the old and new assets.
The accounting consequence depends on the agreement and customer policy.
Old assetCondition and removal proof
New assetSerial and receipt proof
CommercialAgreement or addendum
FinanceReview and approved action
Business value
What the organisation gains
Controlled decisions
Keep requested, assessed, approved and completed states distinct.
Consistent downstream records
Update schedules, assets, locations and obligations from one approved event.
Reconstructable history
Retain the previous state, revised state, approvers and supporting evidence.
Scope and responsibility
What the platform supports—and what people decide
ServiceTiket maintains configured records, schedules, approvals and evidence. The organisation and its advisers remain responsible for accounting policy, treatment, review and compliance.
Ind AS 116 is the primary accounting context for the India offering. IFRS 16 or ASC 842 requirements are assessed separately where group reporting requires them.
Calculations, reports, integrations and controls are confirmed during discovery and testing before they are included in an implementation scope.
Continue exploring LeaseOps
A useful first conversation
Map one real asset from contract to field reality
Bring an anonymised lease schedule, asset register, or workflow. We will map where the records separate and what a controlled process could look like.
Map your lease-event workflow