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Entering manual contingent increase that gets expensed off as per ASC842

in Lease Accounting 8 comments

Summary

@rekha pillay-Oracle

Can you please share steps on how to record a contingent payment increase (thats adhoc)? Please see below scenario:

Lease start date = 1-Aug-2019

Lease end date = 31-Dec-2029

Monthly payment amount = 20,000 EUR

On 1-Oct-2022, due to various reasons, payment is increased by 5000 EUR (this is a contingent increase) that should get expensed off as per ASC842. I know that it can be achieved using CPI Index rate table, However this process is quite cumbersome. So preference is to have a manual process rather than relying on CPI rate based process.

How do we achieve this functionality in Oracle lease accounting module?

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