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ROU Amortization in Functional Currency for Migrated Leases

in Lease Accounting

Summary:

Managing migrated ROU FX rate which is different with the Amortization Start Date FX rate

Content (required):

Currently working on lease migration to Oracle Lease Accounting and our leases are in USD transaction currency, which is different from the functional currency. Observed in the system behavior that the migrated ROU (lease booking journals) is taking the migrated FX rate, however for ROU amortization journals (lease accrual journals) it is taking the Amortization Start Date FX rate (from our Daily Rates).

Example, in our previous system, the rate we use for ROU amortization is 4 however amortization start date FX rate is 4.5. When we migrate, there is .5 difference every month on the to-be vs should-be reporting, hence ROU in the functional currency upon lease expiry is not zero out.

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