Lease Accounting Formula and Payment Due Dates/Calendar
Client is implementing Oracle Lease Accounting and currently all leases are processed using spreadsheet. The PV formula used on the spreadsheet is different from Oracle Daily compound interest formula.Client is asking if we can update seeded formula and replace with existing spreadsheet formula.
Also interest are calculated based on payment due dates which varies depending of each rent calendar using client's spreadsheet and this makes the interest amount different as oracle uses set dates depending of the payment frequency. i.e.
- Oracle - Quarterly payments frequency - Due dates is be defaulted to 1st day of of each quarter.