Create a Leased Asset

This example demonstrates how to create a lease from the Create Lease page in Oracle Assets.

Create a Leased Asset

1. On the Assets page, click the Manage Leases panel tab.

2. Click the Create icon.

3. On the Create Lease page, enter the following values:

   Field	Value
   Lease Number	GECEOCAR
   Lease Description	GE lease for CEO car
   Category	VEHICLE-LEASED STANDARD
   Payables Business Unit	US1 Business Unit
   Lessor	GE Capital
   Lessor Site	GE Capital US1
   Lease Start Date	1st of current month
   Payment Frequency	Monthly
   Payment Option	In arrears

4. On the Financial Terms section of the Create Lease page, enter the following values:

   Field	Value
   Book	US CORP - USD
   Noncancelable Term	60
   Major lease term check box	Enabled
   Lease Classification	Finance

5. Scroll down to the Recurring Payments tab and select or enter the following values:

   Field	Value
   Payment Type	Periodic lease payment
   Amount	1,000.00
   Interest Rate	5

6. Click the One Time Payments tab and select or enter the following values:

   Field	Value
   Payment Type	Initial direct cost
   Amount	800.00
   Exclude from Liability	Enabled

7. Click Generate Schedules.

8. On the Manage Leases page, click the Pending Transactions tab.

9. Click the GECEOCAR (lease number) link.

10. On the Review Lease Edits page, click Amortization Schedule. Review the details on the amortization schedule to ensure that the lease is ready to create.

11. Click OK.

12. Click Submit.

13. Click the Leases tab to confirm that your newly added lease appears.

14. Click Done.

Prepare a Leased Asset for Posting

1. Click the GE lease for CEO car link to complete the required information needed to complete and post the asset.

2. On the Edit Source Line page, select Post in the Queue field.

3. In the Location field, enter USA-CALIFORNIA-REDWOOD CITY-MANUFACTURING.

4. If you use descriptive flexfields, ensure that you enter the required information.

5. Click Save and Close.

Post a Leased Asset to Assets

1. On the Assets page, click the Additions infotile.

2. Click Ready to Post.

3. Click Post All.

4. Click OK.

Run Depreciation

1. Click the Depreciation infotile.

2. Click Calculate Depreciation > Calculate Lease Expenses.

3. Click OK.