Create Milestones

You can define milestones for notifications in the Milestones tab. You can send notifications to users or groups of users.

Use milestones to do the following:

• Record key lease events and due dates.
• Not miss options or other date-sensitive rights and duties.
• Automatically remind responsible parties as well as other stakeholders.

Milestones Tab:

Click New (+) to display the Create Milestones page.

The following fields are available as part of the milestones creation:

Field	Description
Milestone Type	Select the milestone type. Your choices are as follows: Lease Expiration Asset Expiration Exercise Option
Object Type	Select the object type. Your choices are as follows: Lease Asset Payment Term Option
Object Number	Oracle Lease Accounting displays the object number.
Milestone Date	Select the milestone date. This is the due date for the action associated to the milestone type. You must complete after receiving a notification.
First Notice Date	Select the first notice date. The first notice date is the date where the first notification or alert is sent to the user or user group. It can't be after the milestone date. If the frequency is One-Time, the first notification would be the only notification. The default first notice date is the milestone date. If you delete the milestone date and leave it blank, no notification is sent.
Notification Frequency	Enter the notification frequency. The default frequency is One-Time. Your choices are as follows: One-Time Daily Weekly Monthly Quarterly Semi-Annual Annual

Click Save and Close.

Milestones Tab:

You can view or add the following milestone information in the Overview section:

Field	Description
Milestone Number	Lease Accounting generates and displays the milestone number.
Milestone Type	You can view the milestone type.
Object Type	You can view the object type.
Object Number	You can view the object number.
First Notice Date	Retain or change the first notice date.
Notification Frequency	Retain or change the notification frequency. The default frequency is One-Time.
Milestone Status	You can view the status of the milestone. The list is as follows: Pending (after milestone is created.) Notified (after the first notification is submitted.) Past Due (after Action Due Date, if any, is reached and the milestone is not Completed or Canceled (after you manually update it as such.) Completed (after you mark the milestone as completed) Canceled (after you cancel the milestone and the milestone is not yet Completed.)
Description	Enter a description for the milestone, if required.
Milestone Date	Retain or change the milestone date
Assigned To	Select the name of the person that you assign the milestone to.

Click Complete Milestone to complete the milestone creation.

Click Cancel Milestone to cancel the creation of the milestone.

You can create milestones directly for assets, payment terms, or option directly from the Assets, Payment, and Options tab using the Milestones subtab.