Lease and Finance Management - EBS (MOSC)

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How to best manage & maintain leases from the Lessee side of the agreements?

edited Jun 23, 2011 2:03AM in Lease and Finance Management - EBS (MOSC) 4 commentsAnswered
 

We are the lessee for about 1,000+ assets.  We need a better way of maintaining and reporting on the leases. 

 

Currently we have 2 processes underway:

1) use of excel to manage the leases (durations, etc) and then we pay the AP invoices as we receive them from the lessors

2) use of the limited Oracle Fixed Asset module functionality.

 

A few of our issues:

A)      variable rate leases – where the lessor can/does change the interest rate on the lease (rate is tied to the prime interest rate plus a markup)

      the lease invoice comes in for the lease amount (say $100 constant every month) plus varying additional charges (say $10 for maintenance – varies every month) the lease payment generated from FA needs to be manually updated before it can be processed (we have had the issue where the payables group missed this and send only the lease payment then has to perform another payment for the additional charges.

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