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Lease Accounting
Discussion List
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💡How To "Attach Lease Detail Report" On Multiple Leases?Summary: How to "Attach Lease Detail Report" on multiple Leases to change the Version Status from "Booked" to "Finalized"? Content: There is a quartz program that runs t… -
💡Migration to Lease Accounting: Lease Accounting Migration Tools and Best PracticesSummary: Migration to Lease Accounting: Lease Accounting Migration Tools and Best Practices Content: This document provides an overview of Lease Accounting migration too…
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💡Formula to Calculate Opening Liability and IFRS 16 Right of Use Amortization in FLASummary: Users need details about the formula to calculate Opening Liability and IFRS 16 Right of Use Amortization in Lease Accounting. They are trying to replicate exis…
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💡Lease Accounting: How to Create a New Role with Lease Contract DutySummary: How to create and use a new Role related to Lease Accounting Product. Solution: Please check the document attached. Note: For generating Lease Detail Report, th…
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💡SLA setup for Lease Accounting (FLA) product on Oracle CloudSummary: In this document you will find a general overview and a explanation of the Subledger Accounting (SLA) setup for Fusion Lease Accounting. The document contains s…
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💡New RELEASE for LEASE ACCOUNTING: Periodic Compound Interest Calculations in 24DSummary: Periodic Compound Interest Calculations in 24D and Later Releases Content: Lease accounting, in accordance with IFRS 16 and ASC 842, calculates the right-of-use…
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Property Revenue Lease Accruals Going to Unprocessed EventsSummary: I have created a Property Revenue Lease which is Active and in Finalized status. I ran Process Accruals for Property Revenue Leases successfully, but when I che… -
Lease Liability Reduction at actual paymentHi, We are implementing lease accounting for expense leases. There is a question on the lease accounting rent payments, where the lease liability needs to be reduced at …
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Is there a way to include a 6.25% state tax at the lease level and carryforward when generating inv?Illinois enacted Public Act 103‑0592, which changes how sales tax applies to the lease or rental of tangible personal property (TPP). Under this law, the lessor must col…
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Integration of AP Invoice with Oracle Fusion Lease AccountingWe are currently implementing lease accounting and need guidance on the approach for the following scenario: We are looking for a way to see the AP invoices that are cre…
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Straight-Line Amortization Issue – Periodic Method in Oracle Lease AccountingHello , I am currently implementing Oracle Lease Accounting and facing an issue related to the amortization calculation. Business Requirement: For Equipment Finance leas…
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Mass Locations Upload using HCM Data Loading Business ObjectsSummary: Mass Locations Upload using HCM Data Loading Business Objects How to load mass locations using HCM data loading. Upload via spreadsheet is disabled or removed b…
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how to set up a lease with shorter amortization time frame than lease termSummary: We have a lease that we pay $1000 each month of 5 years (60 payments). However, GASB rules require that we finish amortizing this lease at the end of 4th year b…
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What role is required to run Reports in Lease Accounting TileSummary: Content (please ensure you mask any confidential information): I created a custom Lease role by copying the seeded Lease Contract Management role. However, when…
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Automatic Lease Classification in Oracle Fusion Lease Accounting?Summary: Does Oracle Fusion Lease Accounting provide any feature that evaluates the lease data (e.g., lease term, payments, economic life, fair value) and automatically …
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Lease liability calculation via simple interest method should be possibleDescription (Required): not able to calculate lease liability under IND AS 116 as per Simple Interest method. System is only calculating as per compounding interest meth…
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Why is General Accounting Manager giving full Lease Accounting access?Summary: We created a custom role called FIN Lease Inquiry, which is intended to be a view-only role. This role should provide inquiry access only and should not grant f…
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Journal Entries for Recoverable Tax When Lease Accounting Is Not Integrated with APSummary: Hi all, I have a question about the accounting treatment for Recoverable Tax when Lease Accounting (LA) is not integrated with AP. When I create a lease contrac…
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on a draft lease can the amortization end date be updated, whilst in draftSummary: Cannot update amortization end date in draft lease Content (please ensure you mask any confidential information): Created draft lease, lease end date was incorr…
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Why is the "plug" is considered to have an accounting class of "liability"?Summary: The "plug" is considered to have an accounting class of "liability" - do you know why this is the case? As the amount is a net debit in the entry, I would have …
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Rent free period where there is a payment increase agreement in place - How to process?Summary: There is a requirement to have rent free periods for certain property leases. We can achieve this in a couple of ways, either add zero payment lines in to the p…
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How to use Product Fiscal ClassificationSummary: We're under the impression that we can populate Product Fiscal Classification on a lease contract and upon running payments, the value will feed to user defined… -
How does Oracle Lease calculate the Amortization Expense and Lease Expense?Summary: How does Oracle Lease calculate the Right-of-Use Amortization - Amortization Expense and Lease Expense? Content (please ensure you mask any confidential informa…
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How does Oracle Lease calculate the Closing Short Term and Closing Long Term Liability?Summary: How does Oracle Lease calculate the Liability Amortization - Closing Short Term Liability and Closing Long Term Liability? Content (please ensure you mask any c…
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Is there a timing issue between disclosure report and lease liability report?Summary: We sometimes see lease liability schedule variances between the disclosure report and the lease liability report. These variances seem to later resolve. Is ther…
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Can i amortize the revenue of the first year of the contract separated from the rest of lease periodDears, I am currently implementing Oracle Fusion Cloud Lease Accounting (Revenue Lease). We have a specific business requirement regarding revenue amortization that devi…
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Conversion Rate for foreign currency leasesSummary: Post 26A Patch, we have enabled the setup of Foreign Currency Lease Right-of-Use Asset Remeasurement as Measure Changes at Current Rate at system options level.…
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How is Closing Short Term Liability and Closing Long Term Liability calculated in Schedules?Summary: How is Closing Short Term Liability and Closing Long Term Liability calculated in Lease Accounting Schedules? The issue is that the Client has a difference in a…
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Lease Type as Security Control?Summary: Can Permission Group (Lease Type) be used to control or restrict user access to leases in Oracle Fusion Lease Accounting? Specifically, is it possible to limit …
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Is running the Process Expense Lease Accrual required before Create Accounting?Summary: What is the impact of running the Process Expense Lease Accrual? Is it required before running Create Accounting? Content (please ensure you mask any confidenti…
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Parsing rule from Lease DFF to GLSummary: The client requires DFF Field 3 (Operating Unit, Site, State) to be parsed into GL accounting. How can this be achieved? What is Oracle's recommendation about t…
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Lease generated AP Invoice descriptionSummary: Is it possible to update or modify the invoice description generated from Lease Accounting to Accounts Payable? Client wants to change the description of the in…
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In lease accounting, how do you extend a dilapidation?Summary: Hi, we have numerous IFRS16 leases that have dilapidations. We have had a few cases where the lease (incl the dilaps) need to be extended but the system doesn't… -
How to change Interest calculation method at lease levelSummary: System Options, the “Interest Calculation Method” is set to “Periodic Compound Interest.” While creating new Lease, Proration Method field in the lease contract…
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Why does the Lease Invoice distribution account generates incorrect account string?Summary: I created a lease with ROU and Liability checked but when I import it to AP, the Invoice distribution uses the liability account instead of the expense account.…
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Tax Classification Issue in oracle fusion lease accountingi have an issue that i'm seeing that the Tax Classification field is populated with a value even though it’s supposed to be null in the Revenue Lease Payment Template. o…