EAM: Lease Payment Accounting Entries Not Getting Created When Payment Schedule Is “Annual”. (Doc ID 2152043.1)

Last updated on JULY 11, 2016

Applies to:

PeopleSoft Enterprise FIN Asset Management - Version 9.1 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
---------------
Lease Payment accounting entries not getting created when Payment Schedule is “Annual”.

When a Leased Asset is created with an Annual Payment schedule the lease payment entries do not get generated.


EXPECTED BEHAVIOR
-----------------------
LPY accounting entries are not created.

STEPS
-----------------------
Steps to replicate issue in DMO:
1. Add leased asset with Profile ID “LEASED EQT”.
a. Transaction and accounting date as 01/01/2016.
b. Lease term & Estimated life as 48.
c. Interest rate as .0001 (There is actually zero interest rate but the system does not allow that so we are entering .0001)
d. Payment Schedule ID as “Annual Payment Schedule”
e. Lease Payment Type- Advance
f. Step Lease check box checked.
g. Enter 525,815.35 as annual step lease payment.
h. Payment dates 01/01/2016, 01/01/2017, 01/01/2018, 01/01/2019
2. Run depreciation calculation process
3. Run Accounting Entry creation process
4. Run the close depreciation process (Year 2016, Period 1)
 

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, users cannot have LPY acctg entries.

Cause

Sign In with your My Oracle Support account

Don't have a My Oracle Support account? Click to get started

My Oracle Support provides customers with access to over a
Million Knowledge Articles and hundreds of Community platforms