This article shows you how to set up a Lease contract in Contractpedia.
A Lease contract is an agreement where you make regular payments to use an asset—such as a car, machine, or piece of equipment—for a fixed period of time. The payments, duration, included services, and responsibilities are defined in the lease terms.
In this example, we will use a Car Lease contract, but the steps are the same for any other type of leased asset.
Follow the steps below to fill in each section correctly.
General information #
Contract name:
Enter the name, e.g “Company Car Lease”.
Company name:
Select the lessor. You can create it quickly using Add new if needed.
Status:
Select Active if the lease contract is currently valid.
Category:
Choose Car leasing, or create a new category via Add new.
Contract number:
Enter your internal reference number if you use one; otherwise leave it blank.
Connections #
Responsible person:
Select the person who manages the contract, or create one using Add new.
To receive automatic to-dos and reminders, this person must be a Contractpedia user. Make sure their person record is linked to their user account.
Location:
Choose the location this contract belongs to.
If your company has a single location, simply use one called Main Location.
Department:
Type the department responsible, e.g. Administration, or Finance.
Linked assets:
If you wish, you can link one or more specific assets to this contract (e.g. a VW Golf). To link an asset, first create it under Assets, then return to the contract and select it from the Linked assets field.
If you don’t need to track the asset in Contractpedia, you can simply leave this field blank.
Dates & periods #
Start date:
Select the start date of the lease contract.
Expiration type:
Choose Fixed period.
Contract period:
Enter the duration, e.g. 48 months.
End date:
If you selected a contract period, this will be calculated automatically and you can ignore this field.
Automatic renewal:
Select the renewal period if your lease contract renews automatically. (e.g. 12 months).
Termination notice:
Select the notice period specified in your contract, e.g. 3 months.
This is the period before the end date during which you must notify the lessor if you wish to cancel.
Renewal limit:
Usually left blank for lease contracts.
Use this field only if the contract can renew a limited number of times. For example, entering 1 means the contract can be renewed once.
Denunciated:
Skip this unless the contract is being terminated. If so, enter the Actual termination date and Actual expiration date
Financial information #
Type:
Select Expense (you pay the lessor).
Fee name:
Add one or more fees. You can add your monthly, annual or other charges (e.g. residual value, maintenance fees).
Amount:
Enter the payment amount, e.g. 400 for €400 per month.
Period and period type:
Set how often the fee recurs.
One-time → Once
Monthly → 1 | Month
Yearly → 1 | Year (or 12 | Month)
Billing start date:
Optional. If left blank, billing starts on the contract start date. Use this if a fee starts during a specific, for example, the residual value of the car at the end of the lease. This tells Contractpedia when the fee occurs.
Billing end date:
Optional. Use this if a fee applies only for a limited period. Enter both a Billing start and a Billing end date. If the Billing end date is left blank, the fee continues and will be used for the automatic renewal period.
(In case a last payment occurs after the contract end date, set a Billing end date so it is included in calculations.)
Estimated value:
Tick this only if payment varies.
Index terms:
Informational only. Enter any indexation details if relevant.
Payment terms:
Describe how and when payments should be made (e.g. Net 30, Pay within 10 days, etc.).
Files #
Attachments:
Upload related documents via drag-and-drop or by selecting files.
External links:
Add links to documents stored on cloud platforms or servers (press Enter to add each link).
To-do #
Create automatic to-dos:
Keep this box checked to enable automatic-renewal to-do reminders. You don’t need to fill in any to-do details — the system will create them and assign them to the Responsible person. You can add extra to-dos if you want.
Comments #
Comments field:
Optionally add internal notes about this lease contract.
When finished, click Save.
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