---
title: "Creating and Configuring Lessors"
description: "A lessor is the party the owns the underlying asset and transfers it to another party (the lessee) for a contractually agreed lease term, under certain conditions. Lessors are the contracting parties that provide the basis for lease contracts in Lease Accounting."
source_url: https://support.lucanet.cloud/en/documentation/lease-accounting/data-collection/create-configure-lessor
language: en
last_updated: 2023-08-16
---
# Creating and Configuring Lessors

## Overview

A **lessor** is the party the owns the underlying asset and transfers it to another party (the lessee) for a contractually agreed lease term, under certain conditions. Lessors are the **contracting parties** that provide the basis for lease contracts in Lease Accounting.

**Lessors** are created and configured in the workspace of the same name.

As an alternative to manual creation, lessors can also be added by importing a CSV file (see [Importing Data Automatically](https://support.lucanet.cloud/en/documentation/lease-accounting/data-collection/automatic-data-import.md)).

## The ‘Lessors’ Workspace

The **Lessors** workspace displays all the lessors that have already been created:

The 'Lessors' workspace

## Creating a Lessor

Click **Add a new lessor** to create a new lessor.

In the displayed dialog, configure the options for the **New lessor** as described in the next chapter.

## Configuring a Lessor

When configuring a lessor, the following options are available:

{% info-box %}
Fields marked with a \* are mandatory fields. The number of mandatory fields in each tab and how many have already been filled in is shown next to the name of the tab:

{% /info-box %}

### The ‘General Information’ Tab

The 'General information' tab

#### Name of the lessor

Name of the lessor

#### Lessor ID

Creditor number for the lessor

#### Related reporting entity

The reporting entity to which the lessor can be assigned as the sole contractual partner (lessee)

{% info-box %}
- All reporting entities that have been imported in Lease Accounting are available for selection.
- If the lessor is a contractual partner to several different lessees, this field must be left empty.
{% /info-box %}

#### Country or region

Shows the lessor’s country or region

{% info-box %}
You can select the required entry in the drop-down list or search for it using the Search box.
{% /info-box %}

### The ‘Contact Person’ Tab

The 'Contact person' tab

| Option | Description |
|---------|---------|
| First name | First name of the lessor’s contact person |
| Last name | Surname of the lessor’s contact person |
| E-mail address | The contact person's e-mail address |
| Job position | The contact person’s position |

### The ‘Comments’ Tab

The 'Comments' tab

Use the **Additional information** tab to add **comments** on the lessor in a plain text box.