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Partial Month Accruals On Lease Termination Are Not Correct When Multiple Lease Payment Terms Exist (Doc ID 2767822.1)

Last updated on APRIL 13, 2021

Applies to:

Oracle Property Manager - Version 12.1.3 and later
Information in this document applies to any platform.

Symptoms

Partial Month Accruals for Termination are not correct when a lease had more than one payment term

 

Steps to reproduce:

1)  Using a responsibility that can create leases, such as Property Manager Super User, use the following menu path:

Leases and Documents : Main Lease : Enter

2)  Choose 'New' to create a new lease; complete required fields.  Data that will trigger the underlying condition for this issue will be similar to the following:

Ex. with lease commencement date as 19-Dec-2017 and termination date as 18-Dec-2020 with 2 payment terms as below.
Term1=> Start Date: 19-Dec-2017; End date: 31-Dec-2017; Freq: Mon; Sch Day: 1; ROU = 'Y'; Liability = 'Y', RFI = 'Y'.
Term2=> Start Date: 01-Jan-2018; End date: 18-Dec-2020; Freq: Mon; Sch Day: 1; ROU = 'Y'; Liability = 'Y', RFI = 'Y'.

3)  Finalize lease.

4)  Verify on Lease Details Report that all values are correct at this point.

Menu path:  Other -- Run.  Choose to run the concurrent request Generate Lease Details Report.

5)  Amend the Lease with Amendment Commencement Date as 24-Jun-2020 and contract the lease with end
date as 24-Jun-2020.

Menu path:  Leases and Documents : Main Lease : Find

Put in the lease number to amend.  Choose Amend.  Complete required fields.

6)  Verify data on the Lease Details Report after amendment.  The data will show the following issue:

The Lease expense should be same as the ROU beginning balance and the Amortization should also be same as the ROU beginning balance and there shouldn't be any gain/loss calculated for these expired term.  But differences will be present.

Menu path:  Other -- Run.  Choose to run the concurrent request Generate Lease Details Report.

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution
References


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