Understanding Processing Payments for Payables Leases

PeopleSoft Lease Administration provides a facility to manage the life cycle of a lease. During the lease life cycle, various payable items are generated. These items are submitted to the landlord for payment. To generate payments for these expenses, PeopleSoft Lease Administration utilizes the transaction generator, the transaction queue, and the interface to AP/Billing to automatically generate rent and other related expense payments from a lease directly into the PeopleSoft Payables system with the appropriate tax and accounting information.

The high-level business process flow for processing payments for payables leases consists of these steps:

1. Create payables leases (including all general and financial terms and conditions).

2. Activate payables leases.

3. View pending lease payables.

4. Run the Transaction Generator Application Engine process (RE_GENTRANS).

5. Review transactions for processing in the transaction queue.

6. Add manual transactions, as required (optional).

7. Approve transactions for processing.

   This step is optional. You can set up the Auto Approve option at the business unit level.

8. Run the Interface to AP/Billing Application Engine process (RS_TXN_INTFC).

Before you can generate a payment, you must first create a payables lease, define the amount and frequency for each recurring payable term, and activate the lease. Upon activation, you run the Transaction Generator process to load the payables items into the transaction queue. You can review the transactions in the transaction queue to ensure that the recurring payment schedules are correct. If the status is Pending, you must approve each transaction. If the Auto Approveoption is selected in the business unit setup, the system automatically sets the transactions to Approved. The system processes all transactions that are in Approved status when you run the Interface to AP/Billing process.

The PeopleSoft Lease Administration system transfers the payable items to the PeopleSoft Payables application to generate the vouchers and payments. The Interface to AP/Billing process selects all of the eligible transactions from the transaction queue and passes them to the PeopleSoft Payables voucher staging tables. The PeopleSoft Payables application processes creates vouchers from the transactions that are loaded in the staging table, schedules the vouchers for payment, issues the payments, and posts the accounting entries to the general ledger.