Property Manager - EBS (MOSC)

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Multiple Ledgers Issue - Lease Accounting using Property Manager

edited Jun 22, 2019 5:00AM in Property Manager - EBS (MOSC) 1 commentAnswered

Hi,

I have asked this question earlier as part of another thread but seems like I was not able to explain the problem correctly. So I apologize for posting again.

We are implementing equipment lease for ASC842 lease accounting compliance worldwide. Our subsidiaries in Asia are setup with a primary ledger in local currency and reporting ledger in USD (for GAAP).

e.g. China Primary Ledger (Ledger currency = RMB) and Reporting Ledger (ledger currency = USD)

In such a set-up, the ROU and amortization posting to reporting ledger USD should use the original exchange rate when the lease was booked. However, currently Oracle will use Corporate exchange rate when posting any primary ledger journal to reporting currency ledger.

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