CPI Index Page - Recurring Expenses - Contract Module
CPI indexes can be loaded at the firm-level or at the contract-level. The CPI Index page allows users to specify CPI indexes at a contract-level. Load an index at the firm level if there is a particular index that is commonly used for a lot of your CPI-indexed leases. Lucernex has a short list of common indexes that will be loaded and maintained for every firm automatically for you to use as well. Load an index at the contract level if the index applies to one or a small number of CPI-indexed leases.
See the CPI Indexes in Lucernex page for a list of Frequently Asked Questions about CPI Indexes in Lucernex.
Important!
You can only add one CPI index per contract. This CPI index will be titled Contract Specific.
To navigate to the CPI Index page:
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Navigate to Contract > Payment Info > Recurring Expenses.
Use the links in the Navigation Pane on the leftmost side of the page.
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Select CPI Index from the field to the left of the Actions menu on the right side of the page.
The CPI Index page opens.
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Follow a procedure below.
When a CPI adjustment is made, two values are pulled from the associated CPI table:
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The base CPI index, which is from the month and year of the expense setup if there has been no ASC 842 re-measurement done; or from the month and year of the ASC 842 re-measurement if that's been done.
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The current CPI index, which is from the month and year of the retro date of the CPI adjustment being made
Then the ratio of the two values is calculated. The CPI increase is calculated from this ratio, based on the base rent as of the retro date and the ratio calculated in the previous step.
This CPI increase will never be below 0, even if the current CPI index is lower than the base CPI index. This way, the total CPI-indexed rent will never be lower than the fixed base rent. However, as the CPI index fluctuates up or down, the amount of the CPI expense above base rent may either increase or decrease.
If there are catch-up payments due, they will be calculated by taking the difference between the new and previous CPI-increase schedule amounts.
To add a CPI Index to your contract, follow the steps above:
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Click Add Item.
This displays in the Actions menu on the right side of the page.
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Select the year of the CPI index from the Year field.
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Enter the two-digit month in the Month field.
For example, enter February as 02.
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Enter the CPI index value in the CPI Value field.
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Enter the publication date of the CPI index in the Published Date field.
You can also click Calendar
to open the Date Picker and select the appropriate date.
Important!
It is our best practice recommendation that you include the publication date of the CPI index. In rare cases, the government may make changes to CPI index values for a prior month or year. However, as an auditing practice, we take the policy of retaining the old CPI index value in the system. By including the publication date of the CPI index, the system will know which CPI value to use—the more recent one—if there are multiple records in the system for a particular month or year.
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Click Save Changes.
This displays in the Actions menu on the right side of the page.
The page refreshes. A new CPI Index record appears in the CPI Index List.
To edit a CPI Index:
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Select the CPI Index record you want to edit from the CPI Index List.
The CPI Index data populates on the page.
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Make your changes.
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Click Save Changes.
This displays in the Actions menu on the right side of the page.
The page refreshes. Your changes are saved.
To delete a CPI Index record:
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Select the CPI Index record you want to delete from the CPI Index List.
The CPI Index data populates on the page.
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Click Delete Item.
This displays in the Actions menu on the right side of the page.
A dialog opens, asking you to confirm your choice.
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Click Yes.
The dialog box closes. The CPI Index record is deleted.
These are generic procedures that are common across all or multiple areas of Lucernex. As such, these procedures do not call out specific navigation to the page.
To view the audit log:
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Select the record whose audit log you want to view from the list at the top of the page.
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Click Audit Log.
This displays in the Actions menu on the right side of the page.The Audit Log window opens, displaying a list of changes.
There are three click-able areas in the Audit Log:
If you click a link in the Entity column a window will open with all activity for the associated entity.
If you click a link in the Item ID column a window will open with all activity for a specific item, such as a straight line summary record for a contract. The Item ID is a unique identifier that persists indefinitely for that particular record.
Occasionally items in the Old Value or New Value columns will be hyperlinked because those fields are hyperlinked in the system. These hyperlinks have no associated functionality.
You can create a printable view of the data on the page.
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If the page has a list layout, select the record you want to print from the list at the top of the page.
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Click Printable View.
This displays in the Actions menu on the right side of the page.A window opens, with the page data in a printer-friendly format.
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Print the contents of the window.
You can save a page to your documents.
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Click Save to Documents.
This displays in the Actions menu on the right side of the page. A window opens.
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Select the folder where you want to save the document from the Folder for Generated Document field.
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Enter a File Name.
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Select Send email notifications? to send an email notification to anyone who is a member of the folder.
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Click Save.
The window closes. The document is saved.
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To view your document:
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Navigate to the Documents page.
Use the links in the Navigation Pane on the leftmost side of the page.
The Documents page is a third-level tab under the Details sub-tab.
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Navigate to the folder where you saved the document.
The document will appear in the folder.
These are generic procedures that are common across all or multiple areas of Lucernex. As such, these procedures do not call out specific navigation to the page.
The Link provides direct links and XML data for exports into TRAIN.
Entity Links
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Page URL for current [Entity]: Provides the link for the current page in the UI.
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Page URL for [Entity] '[Name Here]': Provides a direct link to the page in the UI for the specific entity that you are currently viewing.
This URL is useful when you want to share a direct link to a page via email.
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Top Menu Item URL for current [Entity]: Provides a direct link to this page for use in your top menu.
Export as XML Options
To export XML data for this page:
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Enter any XML elements you want to include in the XML element includes field.
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Enter any XML elements you want to exclude in the XML element excludes field.
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Select or clear the following check boxes as necessary:
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Want firm defined fields: Include your user-defined fields.
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Want referenced records: Include referenced records, such as location data for a contract.
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Include all records of this type: Include all records of a particular entity type, such as a contract, location, or portfolio.
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Importing into a different firm / env: Select if you will be importing this data into a different firm or environment.
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Click Export.
The export processes. An Export Status window opens.
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Click Save XML File.
A Save dialog box opens.
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Save the file somewhere you will be able to find it on your computer.