E1: 15: Incorrect Entry for Early Termination after the Lessee Accounting Journals Were Run for Only One Period of a Lease
(Doc ID 2880078.1)
Last updated on JUNE 29, 2022
Applies to:JD Edwards EnterpriseOne Real Estate Management - Version 9.2 and later
Information in this document applies to any platform.
When Early Termination of Lessee Lease is done after just one period of the Lease the reversing entries are incorrect. The entries in the Accumulated Amortization and Lease Liability accounts are for the full amount of the ROUA instead of subtracting the amount that was depreciated for the first period. However, if the Early Termination is done after two or more periods, the Amounts from the Accumulated Amortization and Lease Liability accounts are less what was already amortized.
1. In Lease Master Revision (P1501) create one Lessee Lease.
2. In Recurring Billing Revisions (P1502) enter Recurring Billing information for the lease.
3. In Work With Amortization Schedules (P15171) take Row exit Change Status and change it to 10.
4. Take Row exit Create Amort Schedules.
5. Take Row exit Create Commence JEs.
6. Run Balance Sheet Lessee Accounting Journals (R15180).
7. In Recurring Billings (P1502) take Row exit Change Lease Terms.
8. Press OK in Recurring Billings (P1502) to save the change.
9. In Work with Amortization Schedules take Row exit Terminate Early.
10. Notice the Entry on the Accum Amortization Account is for the full amount of the Lease same as the PVLP account, not considering the part already amortized by the Lessee Accounting JE.
11. If the Early Term was used after running Balance Sheet Lessee Accounting JE the Lessee Accounting for periods 1 and 2 and the Termination JEs would be correct.
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document