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EAM: Lease Entries Ignoring Accounts Setup On Templates (Doc ID 2461140.1)

Last updated on JULY 21, 2020

Applies to:

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

Goal

We are noticing that for Initial Direct Cost (trans type ADD cost type E), the accounting entries processes (accounting entries as well as depr close app engines) are ignoring the accounts that are actually setup on the accounting templates for "Rent Expense" distribution type. These processes basically ignore what's on the templates and just use whatever rent expense account was used during allocating the original lease. This causes a huge problem for accounting because if we cannot use different accounts on ADD/E vs LEX/E templates, we cannot recognize the rent expense at all. These 2 entries basically net off and cause a 0 recognition of rent expense. We want to use our clearing account ('A') on the initial ADD/E entry and then use the actual rent expense account ('B') on the LEX/E entries... but because of this problem the LEX/E entries wash out ADD/E entries. Please see attached word doc for replication steps and our template setup.
 

Solution

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In this Document
Goal
Solution
References


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