ELA: Receivable Lease Default to Classification "Operating" Instead of "Finance", as a Result, Cannot Capitalize the Underline Leased Asset.
(Doc ID 2887498.1)
Last updated on AUGUST 08, 2022
Applies to:PeopleSoft Enterprise FIN Lease Administration - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
It is observed that the receivable lease is defaulting the leased asset Classification as "Operating". Due to this the underlined leased asset cannot be capitalized.
Steps to Replicate:
1) Create a New Receivable Lease .
Menu > Lease Administration > Receivable Leases > Create a New Receivable Lease.
2) Provide all the information like lease type, Lease commencement and termination dates , rent amount and rent schedule details.
3) On the asset information select add an equipment/property option form the dropdown. Provide asset information.
4) Save the lease. Review the classification the is defaulted to "Operating", as result there is not entry in the COST table for the lease on the activating the lease.
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