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Interest Rate Not Available for All Payment Types in Manage Leases (Doc ID 2559591.1)

Last updated on MAY 12, 2020

Applies to:

Oracle Fusion Assets Cloud Service - Version 11.1.10.0.0 and later
Information in this document applies to any platform.

Goal

Interest Rate is not available for all Payment Types in Manage Leases. 

User is able to create a payment schedule using the Recurring Payments tab in which there are 3 options:

Periodic Lease Payment
Variable Lease Payment
Other Payment

The Periodic Lease Payment is the only one which offers a field to enter an interest rate for the Lease.
If you select the Variable Lease option the interest field is greyed out/unavailable.

However there are examples in which the user is paying for a lease on a property and there are reduced rent periods within the Lease.
Therefore a Variable Lease Payment seems the most appropriate option but you cannot enter an interest rate.
Selecting Periodic Lease Payment automatically apportions the number of periods based upon the non-cancellable and cancellable term and
fixes the amount for those periods based upon the specified amount.

Is it possible to have a different interest rate for different payment periods e.g. 0% for the 1st 3 months; 2.56% for the next 2 years and 3.2% for the last 2 years.

Solution

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In this Document
Goal
Solution

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