ERE: Notification Of Lease Expiration Prior To Lease End Date (Doc ID 1608143.1)

Last updated on FEBRUARY 23, 2016

Applies to:

PeopleSoft Enterprise FIN Real Estate Management - Version 9 and later
Information in this document applies to any platform.

Symptoms

Having a notification produced after the lease end date is not necessarily useful. Normal business practice is that leases are due on the first of the month and the RE_GENTRANS process is run prior to that date so that payments can be generated an in the landlords hands on the first of the month. If the RE_GENTRANS process is being run 7 days prior to the end of the month and the BU Lead Days are set to 10 then the process should look at the lease end dates and the lead dates, any leases that are to expire in between the date that the process is run and the # of lead days should generate a notification if the BU option is set to Notify or Notify and Update.

For example:
Lease end date = July 31, 2013
Lead day = 10
RE_GENTRANS process run to generate Aug 1, 2013 payments on July 24, 2013.

When the RE_GENTRANS Process runs the system should take the run date (July 24, 2013) and add 10 days (Aug 2, 2013). Any leases that have an end date of Aug 2 or prior should generate an email indicating that they are about to expire.

This would be much more useful information than getting a notification after the end date has come and gone. Being notified at this point would allow for proper intervention with the lease setup prior to payments being due to the landlord.

Cause

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