Understanding the Data Migration and Transition Process

The migration of Asset Management (AM) leases to the Lease Administration (LA) data structure establishes the sharing of leasing functionality between AM and LA. Customers licensed only for AM will benefit from features and functions within LA that specifically address the core accounting requirements for payables leases (lessee agreements).

To process leases under the new accounting standards ASC 842, GASB 87, or IFRS 16, you must first migrate your Asset Management leases to Lease Administration. After migrating your AM leases to LA, you can process information under the current accounting standard and then later transition to the new accounting standard closer to your organization's adoption date. You do not have to transition to the new accounting standard immediately after migration. An activity guide is provided that includes all the tasks necessary to migrate AM lease information to the LA data structure followed by tasks to transition all leases to the new accounting standard. Certain tasks apply to leases originating in AM (AM leases) while other tasks apply to leases originating in LA (LA leases). Some tasks apply to both AM leases and LA leases. At a high level, customers will review existing AM leases, configure LA shared product configuration in preparation for data migration, migrate AM leased assets to the LA data structure and then capitalize their AM and LA operating leased assets under the new accounting standard. For information on Activity Guide see Using the Activity Guide

Oracle recommends customers apply these changes to a test environment before applying the changes to their production environment. Both environments should be on a supported PeopleTools release to include WorkCenters and Activity Guides. Customers can use tools to migrate configuration from test to their production environment.

Click to watch a short video about PeopleSoft Lessee Accounting for GASB.