1. Using Lease Accounting
  2. Generate Lease Schedules

Generate Lease Schedules

After you validate the lease, you must generate the schedules.

Schedules Tab:

  1. Click Actions.

  2. Click Generate Schedules.

You will receive the confirmation message on the generation of the schedules.

The schedules are displayed in the Schedules tab in the Lease page.

Expense Leases:

The Schedules tab displays the amortization schedules in summary and details. It also displays the payment schedules with the Payables invoices shown against a payment.

The Schedules tab also displays 'Accrued' expenses.

You can select any of the above information from the LOV in the Schedules tab.

Oracle Lease Accounting generates the following summary of periodical schedules as it appears in the Lease Details report:

  • Right-of-Use

  • Lease Liability - Short Term and Long Term

  • Interest Expense

  • Amortization Expense

  • Lease Expense

  • Cash Schedules

Lease Accounting generates and attaches the Lease Details report to the lease in the Schedules tab during the finalization of the version status. Lease Accounting deletes the schedules when it generates the Lease Detail report.

The lease is currently in Completed version status and Draft lease status.

Lease Accounting amortizes the Lease Liability and Right-of-Use between amortization start and end dates.

Currently, Daily Compounding Interest Method for Interest Calculation and Daily Amortization Method for Amortization are available.

For daily calculations, you can define an irregular calendar such as 4-4-5.

Based on the number of dates in a period, daily amortization differs from period to period.

Lease Accounting converts the annual discount rate, for example, 7%, to a daily compounding rate, as shown below and uses it to calculate present values and daily interest.

7% annual rate = (1+Rate%)^(1/365 or 360)-1 = 0.00018538

Revenue Leases:

The Schedules tab displays the revenue amortization schedules in summary and details. It also displays the payment schedules with the Receivables invoices shown against a payment.

You can select any of the above information from the LOV in the Schedules tab.

Once you activate the lease, you must navigate to the side panel and run the Process Properties and Revenue Lease Actions program from the Process Lease Payments link in the side panel for Revenue Leases.

You must also run the Process Properties and Revenue Lease Actions program from the Process Lease Payment Tieback link in the side panel for Revenue Leases. This enables the AR Invoices for the revenues to be displayed in the schedules for the revenue leases.

Lease Accounting generates and attaches the Lease Details report to the lease in the Schedules tab during the finalization of the version status. Lease Accounting deletes the schedules when it generates the Lease Detail report.

The lease is currently in Completed version status and Draft lease status.