Use Revisions enables you to run a report including changes in all or only a subset of revisions. It's particularly use for determining the financial impact of a change to a lease. There are three options to choose from:
The default value is All, which should be used in most circumstances. When this option is selected, the report will include changes made from all revisions of a lease. The changes from each revision will be shown, in the report, per the revision booking date.
Final will include only the final revision of a lease in the report. This option ignores all other revisions, giving out output as if the final revision values started at lease inception and lasted through the life of the lease.
Final and All options are intended for answering "What if?" questions, as they allow you to run reports only including a subset of lease revision (i.e. modifications).
Historical includes all revisions booked up to the date selected. All changes booked after that date will be excluded from the report.
To see the booking date of a revision, go to the Inception tab of a lease record. You will see a "Revision Booking Date" towards the bottom of the screen. If there are no revisions, this field will be empty. To see the booking date of each revision on the lease, use the revision selector in the top-right of the screen to change which revision you are viewing.
Let's further explore Historical option with an example. Pretend that you are running an amortization schedule for a lease with two revisions and have been asked to show how each revision affected the schedule.
Revision 0 (Inception)
- To run the report for the life of the lease based on the values at inception (Revision 0), set the date to any time after the Revision 0 booking date (1/1/22), but before the Revision 1 booking date (2/1/22).
- To run the report based on the values as of Revision 1, but excluding the changes made in Revision 2, set the date to any time after the Revision 1 booking date (2/1/22), but before the Revision 2 booking date (3/1/22).
- Finally, to run the report including the changes in all revisions, simply use the All selection or set the booking date to anytime after Revision 2 (3/1/22).