When Processing an Asset Relocation in the Lease Center, A Rebook is Being Done and Incorrect Credit Memos are Being Generated
(Doc ID 2877210.1)
Last updated on JUNE 22, 2022
Applies to:Oracle Lease and Finance Management - Version 12.2 and later
Information in this document applies to any platform.
Operating Lease contracts that have an Asset relocated from a state with no upfront tax to a state that does has upfront tax show unexpected Credit Memos after billing. Also, there are no longer any Current Streams on the contract so no future billing will happen. The contracts having relocated Assets should not have Credit Memos created for the previous billing and the future billing streams should be correct.
1. Using a Receivables responsibility, navigate: Transactions > Transactions Summary.
2. Query up the Transactions for the Operating Lease contract that will have an asset relocated to another state with upfront tax.
3. Notice that there are paid invoices as well as unpaid invoices.
4. Using the Lease Center Agent responsibility,navigate to the Lease Center Search.
5. Query up an Operating Lease contract having the Asset that will be moved.
6. Navigate to the Asset tab.
7. Highlight the Asset that will be moved.
8. Click on the "Bulk Asset Update" button.
9. On the "Asset Location Bulk Update" form that opens, select the new location for the Asset from the Location LOV.
10. Click the 'OK' button.
11. After the process finishes, run the Lease Billing request set for that contract.
12. Using a Receivables responsibility, navigate: Transactions > Transactions Summary.
13. Query up the Transactions for the Lease contract.
14. Notice that there is a Credit Memo for all the paid invoices as well as Credit Memos for each of the unpaid invoices. These Credit Memos are NOT expected.
15. There are no current streams on the contract so no future billing will occur.
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