Accounting Entries for Lease Amortization, Asset Addition, Termination, and Changes in Payments

Summary:

Seeking guidance on the accounting entries for monthly amortization, finance cost, new lease asset additions, asset terminations, changes in monthly lease payments, invoicing, and recording gain or loss on lease terminations in Lease Accounting module.

Content (please ensure you mask any confidential information):

We are looking for clarification on the specific accounting entries generated in Oracle Cloud for the following lease-related activities:

• Monthly amortization and finance cost entries

• New lease asset additions

• Termination of lease assets

• Changes in monthly lease payments

• Invoicing and recording of gain or loss when terminating lease assets

Could you provide examples or guidance on how these entries are typically configured in Lease Accounting?