ELA: Incorrect LPY (Lease Payment) LO (Lease Obligation) and LP (Lease Obligation Contra) for Financial Leases with Base Rent Stepped Escalation
(Doc ID 2688588.1)
Last updated on DECEMBER 07, 2020
Applies to:PeopleSoft Enterprise FIN Lease Administration - Version 9.2 to 9.2 [Release 9]
PeopleSoft Enterprise FIN Asset Management - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
Incorrect LPY(Lease Payment) LO(Lease Obligation) and LP(Lease Obligation Contra) for Financial Leases with Base Rent Stepped Escalation Schedule.
The issue can be reproduced at will in FSCM 9.2.36 with the following steps:
With the "Apply ASC 842, IFRS 16 and GASB 87 Accounting" checkbox unchecked:
1. Create a new Finance Payable Lease with Base Rent Stepped Escalation Schedule.
2. Validate and Activate Lease
3. Calculate the Depreciation
4. Run Transaction Generator
5. Approve Lease Payments
6. Run Manage Interface to AP/Billing
7. Run Voucher Build
8. Run Create Accounting Entries
9. Run Close Depreciation
Detailed DEMO Replication Steps Attached
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