ERE: Quarterly Scheduled Payments Show As Monthly Frequency In REM
Last updated on SEPTEMBER 15, 2016
Applies to:PeopleSoft Enterprise FIN Lease Administration - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
In release 9.2, Demo, although rent payments/bills may be scheduled quarterly, the frequency is shown as Monthly on the Financial Tab.
Information is misleading when viewing the lease details. If the details are being viewed on-line, you have to physically open the expense item to see that it is truly scheduled to be paid quarterly. This will increase the time for manager approval of the lease details. Also, if the details are being reviewed via the Lease Abstract form (which clients will be viewing), you cannot determine the frequency of the payments, nor can you obtain an accurate cost of that lease.
Steps to replicate:
1. Set up a lease on quarterly terms.
2. Go to Real Estate Management, Lease Administration, Payables Leases, Maintain Lease. Schedule of Recurring Rent shows as Monthly.
But when you go to Financial Terms, Base Rent Details, the Terms Calendar shows as Quarterly
Expected to see recurring rent of quarterly.
Recurring rent is listed as monthly
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