Lease Migration with Gross Right-of-Use Asset and Accumulated Amortization

Capture the right-of-use accumulated amortization balance when importing midlife leases. Account for the gross right-of-use asset balance and the accumulated amortization separately when booking migrated leases.

To create expense leases with the gross right-of-use asset and accumulated amortization balances:

1. Create an expense lease for property or equipment.
2. Update lease details to check the Migrated Lease flag and input the Right-of-Use Basis as Gross.
3. Create an asset and add a payment.
4. Update the accounting details on the payment to input the Gross Right-of-Use and Accumulated Amortization amounts.

The following screenshots describe the process of creating a migrated lease with gross right-of-use asset and accumulated amortization balances:

Lease Details page

Asset Details page

Payment Details - Accounting tab

Business benefits include:

• Simplify compliance with lease accounting standards to record and report the gross right-of-use asset balance and accumulated amortization separately.
• Improve operational efficiency with streamlined accounting when migrating existing portfolios.

Here's the demo of these capabilities:

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: Financials  No Longer Optional From: Update 25C

Key Resources

• This feature originated from the Idea Labs on Oracle Cloud Customer Connect: Idea 649599

Access Requirements

You do not need any new role or privilege access to set up and use this feature.