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ELA: Lease Expiration Date Prior to Today (Doc ID 2378767.1)

Last updated on MARCH 26, 2018

Applies to:

PeopleSoft Enterprise FIN Lease Administration - Version 9.2 and later
Information in this document applies to any platform.

Goal

We are using PeopleSoft Lease Administration to book straight line entries for Receivables Leases. We have a scenario where a tenant terminated (Expired) a lease prior to the expected Lease Termination Date. When expiring the lease we are unable to set the actual lease expiration date anywhere as there is no field provided to capture such an event. Please advise on the best way to handle this scenario within this module. In our case the tenant terminated the lease on 2/1, however, we were not notified until 2/8. Upon creating the expiration on 2/8, PeopleSoft logs this as the expiration and the straight line entries are prorated to this date as well.

Expected Behavior
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Expect to be able to enter the actual expiry date even though the transaction occurs at a later date.

Business Impact
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Straight line entries for the expiry are prorated from the data entry date not the actual expiry date.
 

Solution

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