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ELA: Straightline Adjustment Entries for an Operating Lease with Escalating Payments are not Offset to the Correct Account Causing the Lease Expense Contra (RT) Account to Remain Imbalanced (Doc ID 2683333.1)

Last updated on OCTOBER 12, 2020

Applies to:

PeopleSoft Enterprise FIN Lease Administration - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.


When we have an operating lease with escalating payments, PeopleSoft does not record the offset (the credit side) to the right account causing our Lease Expense Contra (RT) account to not zero out. 

It is expected that Lease Expense Contra (RT) account will zero out.

The issue can be reproduced at will with the following steps:
1. Create operating Lease.
2. Add Lease Incentive and Base Rents with sequential Terms (start and end dates).
3. Allocate, Classify, and Activate Lease.
4. Generate Straightline Schedule.
5. Calculate Depreciation for Lease Asset.
6. Create Accounting entries.
7. Close Depreciation for fiscal year/period.





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