Record equipment hired until notice is given

Plant and equipment is often hired on a rolling basis: a weekly or monthly charge that continues until someone gives notice, with no end date. Lease102 now records these hires properly.

When you import one, the review screen asks for the notice period and who can give it, and sets the end date from that. If the document gives no notice period, Lease102 assumes one payment period and tells you so. On the lease form, the same choice is Rolling, until notice.

The hire stays live on your register until you record the date it ended, and no expiry reminders are sent. If the term is 12 months or less and you have recorded the short-term election for that class of asset, the exemption is offered for you to accept.