8. Mass Adjustments

If you need to regulate many contracts at the same time each year, such as index adjustment once a year or budget update, we recommend using the Mass Adjustments functionality described below. By tapping this menu in the toolbar, you can also extend contracts where no payments are scheduled. This feature allows you to avoid going into contract after contract to make these adjustments.

The Mass Adjustments button can be found in the menu at the top.

The first registration screen is displayed like this:

Start by selecting the libraries that you would like to update. You can also select other parameters (Companies, departments) from the list to sort the contracts you want to update at the same time.

We have now chosen the libraries where we will adjust the contracts (In this illustration, every library is selected).

Then press Search.

The relevant contracts, based on the criteria set out above, appear:

Set the date the adjustments will take effect. We usually adjust at the beginning of a new year. In this example, the date is set to January 1st, 2022.

The agreements where the change date is within the contract period are displayed with an empty box behind each contract. The contracts marked with an x have no contract payments before the change date ( I.e., their start dates are after the change date) and are therefore not included. Select the contracts you want to regulate by clicking on the box behind the contracts, or you can select all of them by clicking on the box behind Library:

In agreements where a question mark appears, the agreement period is not covered on the chosen date for adjustment (I.e., the end date is after the change date). A decision must be made as to whether these agreements should be included in the regulation or not. You select one contract at a time by pressing the question mark, as it’s not certain whether they will be included in the next period. Tap the question mark to automatically extend the contract and include the contract in the adjustment. Note that for IFRS 16 contracts, agreements cannot be extended or changed in other ways, other than index adjustment, than by means of this function. The change log must be used here.

Press Next page, at the bottom of the list.

All contracts with payments you want to adjust now appear:

By using the choices at the top, you can now accomplish two things:

1) Adjust the contract amounts with an index. Enter a percentage in the field, Adjust payments by, then all amounts are adjusted with the selected percentage. Here, 5% is chosen. 2) Extend the contracts, which don’t contain payments, until the selected end date in the Set end date field. This is done to avoid having to open each contract to make the extension.

You can now adjust the future lease payments for each individual contract by overwriting the suggested amount. Please note that in contracts with multiple payment periods or options, all periods will appear.

You can also extend the contracts to a proposed date, for those contracts that don’t have contact payments for the entire period. In the example below, the next budget year is chosen (12.31.2023).

Once you have checked that this looks correct, click on Next page, Save and then answer OK to the control questions. All contracts are now updated and a new period is added to the contract payments.

Only the last payment is extended in this manner. If you need to insert multiple periods within a year, this must be done in each contract.