The Understanding of the Amortization Schedule for Advance Lease Payments
(Doc ID 2714365.1)
Last updated on JUNE 14, 2023
Applies to:
Oracle Fusion Assets Cloud Service - Version 11.13.20.07.0 and laterInformation in this document applies to any platform.
Symptoms
Wrong Lease Liability is shown in Lease Amortization Schedule.
We have a Lease Terms of 25 months, Payment is advance. Lease Starting from Jan-19 and Advance Payment is 10,000. For Remaining Payments made in advance from Feb-19 to Jan-20 amount to 11,000 and Feb-20 to Jan-21 amount to 12,100. Interest Rate is 12.86 Percent.
Currently we are in Jun-20 Period. System is showing Lease Liability of 80,952 but Lease Schedule generated from system shows 69,952.
Cause
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In this Document
| Symptoms |
| Cause |
| Solution |