Equpiment Lease Termination Without IFRS Enabled Produces Incorrect Values
(Doc ID 2762926.1)
Last updated on DECEMBER 06, 2022
Applies to:
Oracle Property Manager - Version 12.1.3 and laterInformation in this document applies to any platform.
PNEQNORB.pls
Symptoms
System calculates wrong normalization amounts incorrectly when a lease amendment is terminated prematurely on equipment leases.
Steps to replicate:
Use the responsibility Property Manager, Vision Operations (or similar that has access to the Equipment Lease menu).
Menu path: Equipment Menu : Equipment Lease
1) Set up new Equipment Lease with structure similar to this:
Lease Commencement date: 01-Oct-2020
Lease Termination Date: 30-Sep-2020
Term details
Start Date: 01-Oct-2020
End Date: 30-Sep-2021
Amount: 12,000 GBP per year (Annual Frequency)
Normalize- Checked
ROU- Unchecked
Liability- Unchecked
2) Assign asset to the lease and link to payment term
3) Finalize lease
4) Amend lease as:
Amendment commencement date: 15-Jan-2021
Amendment execution date: 15-Jan-2021
Amendment Termination date: 15-Jan-2021
Change the lease termination date to : 15-Jan-2021
When reviewing the schedule that generates, the values for the period containing the Amendment Commencement Date will be incorrect:
Currency Total Normalization Account Accrued
Date Code Cash Cash Expense Adjustment Liability
====== ========= ====== ===== ====== ============ =======
01-OCT-20 USD 3.517,81 3.517,81 1.000,00 <2.517,81> <2.517,81>
01-NOV-20 USD 0,00 0,00 1.000,00 1.000,00 <1.517,81>
01-DEC-20 USD 0,00 0,00 1.000,00 1.000,00 <517,81>
01-JAN-21 USD 0,00 0,00 3.517,81 3.517,81 3.000,00
Cause
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In this Document
| Symptoms |
| Cause |
| Solution |
| References |