ELA9.2: For Foreign Currency Lease, Asset Cost adjustment Entries After Amendment Are Created in Book Currency Instead of Original Transaction Currency
(Doc ID 2572704.1)
Last updated on JANUARY 25, 2021
Applies to:PeopleSoft Enterprise FIN Lease Administration - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
For a lease that is entered in a currency other than Lease business unit base currency,
Cost adjustment entries after amendment are created in book currency instead of original transaction currency.
Steps to Replicate:
1. In Asset Management Installation options, make sure that 'Trans currency Translation' option is unchecked.
2. Create Finance lease with commencement on 07/01/2019, termination on 06/30/2023, Lease signed on 07/01/2019
3. In Financials terms tab set Lease currency as a currency other than Lease BU base currency.
4. Enter base rent details: payment type advance, any amount, schedule '1st of every month', terms calendar 'Monthly', No escalation
5. Add a property with profile 'Leased Building', property type site with area defined in sqm & occupancy date same lease sign date
6. Allocate cost as initial direct costs & other
7. Set asset classification to 'Finance', check 'Reviewed' checkbox & save.
8. Activate lease & generate straight line schedule
9. Calculate depreciation , close depreciation for periods 7 & 8, and generate accounting entries
10. Create an amendment to shorten lease term by 1 year i.e. set termination date to 06/30/2022, transaction date & accounting date as 09/01/2019
11. Save the amendment
12. Activate the Lease amendment
13. Calculate depreciation, close depreciation for period 9, and generate accounting entries
DIST_LN Cost adjustment entries after amendment are created with book currency instead of original transaction currency of lease.
DIST_LN Cost adjustment entries after amendment should be in the original transaction currency.
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