Hi, is anyone using Leases in FAM? Is the only way to make changes to existing leases to modify the interest rate or term? On existing lease the amount was increasing so should this be considered as a new lease contract where the existing lease should be ended and new one created?

I don't have an answer for your question unfortunately, but did you have problems setting it up? Is there some trick to be able to see the Lease record? The new lease option isn't available in the FAM menu and the Lease record doesn't exist in our system as far as I can tell.

Our accounting team was setting those up on their own and they are not that technical people, so it should be quite easy to do with the instructions. 🙂 But if nobody uses those Leases, does anyone know can you increase the value of the asset? There are several options to decrease the asset amount but I havent found any to increase it. Is that even possible?

We found the lease module in FAM basically unusable. Ended up adding netlease through suiteapp.