User Interface Setup
You can also set up system options, payment term templates, and discount rate indexes from the Manage Lease Accounting Configuration page.
You must do the following steps to start the setup process:
Ensure you have the Financial Application Administrator role assigned to you.
Navigate to the Setup and Maintenance page from the My Enterprise menu.
Change the functional area to Financials from the functional area list.
Click Lease Accounting.
You can set up Oracle Lease Accounting using the new user interface for setup in the 'Manage Lease Accounting Configuration' option.
Manage Lease Accounting Configuration UI Setup:
You can complete the setup required for system options, discount rate indexes, and payment term templates directly from the Search page.
You can select the following options from the Search Options:
-
Search System Options
-
Search Discount Rate Indexes
-
Search Payment Term Templates
You can also edit, update, and duplicate the setups from the Manage Configuration setup.
System Options Setup
You can give the following information for system options setup:
General:
Field |
Description |
---|---|
Business Unit |
Select the business unit. |
Primary Accounting Standard |
Select the primary accounting standard. The valid options are IFRS16 and ASC842. The accounting for compliance leases and their balances are generated according to the selected accounting standard. |
Secondary Accounting Standard |
Select the secondary accounting standard, if you require. You must only select the secondary accounting standard if you need to comply with both standards. If the primary is IFRS16, the secondary will be ASC842 if both accounting standards are applicable for reporting and vice versa. |
Item Master |
Select the item master. |
Default Currency Conversion Type |
Select the default currency conversion type. |
Ledger Name |
Displays the ledger name. |
Secondary Ledger |
Select the secondary ledger. Add a secondary ledger only if you need to comply with the secondary accounting standard. Note: You don't need to choose a secondary ledger if you don't need to
report and account in multiple GAAPs.
|
Amortizations:
Field |
Description |
---|---|
Amortization Calculation Frequency |
Select 'Daily' or 'Periodic' as the calculation frequency of amortizations. |
Calculation Calendar |
Select the calculation calendar. |
Interest Calculation Method |
Currently, 'Daily Compound Interest' is the default method. |
Numbering:
Field |
Description |
---|---|
Auto Lease Numbering |
Select this option to allow autonumbering of leases. |
Auto Asset Numbering |
Select this option to allow autonumbering of assets. |
Approvals:
Field |
Description |
---|---|
Lease Transactions Approval |
Select to allow approval of imported lease transactions. |
Import Preference |
Select the import preference. You can choose from the following import preferences:
|
Payment Processing:
Field |
Description |
---|---|
Payables Integration |
Select to allow Payables accounting integration in Lease Accounting. |
Lease Liability Reclass:
Field |
Description |
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Reclass Liability |
Select to allow reclassification of liabilities in Lease Accounting. |
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Reclass Liability From Period |
Initial Setting: No Active Leases in Lease Accounting:
Subsequent Setting, following matrix is followed:
|
Click Save and Close.
Discount Rate Indexes Setup:
You can give the following information for setting up the discount rate indexes:
Field |
Description |
---|---|
Business Unit |
Select the business unit. |
Index Name |
Enter the name of the index. |
Effective From |
Select the effective start date for the index. |
Description |
Enter a description for the index. |
Click Save and Close.
Payment Term Templates Setup
You can give the following information for setting up the payment term templates:
General:
Field |
Description |
---|---|
Business Unit |
Select the business unit. |
Payment Template Name |
Select the payment template name. |
Template Type |
Select whether the template is for a payment or an option. |
Active |
Select whether the template is active or not. |
Description |
Enter a description for the template. |
Payment Details:
Field |
Description |
---|---|
Payment Purpose |
Select a payment purpose. You can choose from the following purposes:
|
Payment/Option Type |
Select the payment or option type. |
Template Type |
Select whether the template is for a payment or an option. If the template is for a payment, you can choose from the following template types:
If the template is for an option, you can choose from the following template types:
|
Payment Term |
Select the payment term. |
Payment Frequency |
Select the payment frequency. |
Supplier Name |
Select the supplier. |
Supplier Number |
Displays the supplier number. |
Supplier Site |
Select the supplier site. |
Accounting:
Field |
Description |
---|---|
Liability |
Select to allow liability balances on leases. |
Right-of-Use |
Select to allow right-of-use balances on leases. |
Tax:
Field |
Description |
---|---|
Primary Intended Use |
Select the primary intended use. |
Tax Classification |
Select the tax classification. |
Tax Included |
Select whether to include tax or not. |
Withholding Tax Group |
Select the withholding tax group. |
Product Category |
Select the product category. |
Product Fiscal Classification |
Select the product fiscal classification. |
Product Type |
Select whether the template is for goods or a service. |
Transaction Business Category |
Select the transaction business category. |
User-defined Fiscal Classification |
Select the user-defined fiscal classification. |
Distributions:
Click (+) to add distribution information.
Field |
Description |
---|---|
Ledger |
Select the distribution ledger name. |
Account Name |
Select the associated account. |
Code Combination |
Enter the code combination. |
Click Save and Close.