Process Expense Lease Payments

You can process expense lease payments using the activity side panel. You can export the payments defined in Lease Accounting to Payables to generate invoices.

You can run the process lease payments program for expense leases from the side panel.

Process Expense Lease Payments:

• Select Process Expense Lease Payments from the side panel to run the program.

• The following parameters are available in Basic Options:

  • Process Type:

    • Lease Payments

  • Business Unit: Select the business unit from which you want to process lease payments for expense leases.

  • Lease Number: Select the lease number that you want to process lease payments for expense leases.

  • Period: Select the period for which you want to process lease payments for expense leases.

  • From Payment Due Date: Select the payment due date from which you want to process lease payments for expense leases.

  • To Payment Due Date: Select the payment due date to which you want to process lease payments for expense leases.

  • Payment Type: Select the payment type for which you want to process lease payments for expense leases.

    • Abatement

    • Appliance Rental

    • Base Rent

    • Common Area Maintenance

    • Cleaning

    • Deposit

    • Depreciation

    • Direct

    • Escalation

    • Payment of Option

  • Payment Purpose: Select the payment purpose for which you want to process lease payments for expense leases.

    • Base Rent

    • Cleaning

    • Depreciation

    • Insurance

    • Operating Expense

    • Percentage

    • Rent

  • Supplier Name: Select the supplier for whom you want to process lease payments for expense leases.

  • Supplier Site: Select the supplier site from which you want to process lease payments for expense leases.

  • Payments Processing:

    • Select Approve to process the payments.

    • Select Hold to hold the payments temporarily.

    • Select Release Hold to release the held payments.

  • Export to Payables

    • Select Yes to export the payments to Payables.

    • Select No to stop the export of the payments to Payables.

    • Select Hold to hold the export of payments to Payables temporarily.

    • Select Release Hold to release the export of payments to Payables.

  • Launch Import Payables Invoice

    • Select Yes to launch the import of the Payables invoices.

    • Select No to stop the import of the Payables invoices.

• Oracle Lease Accounting notifies you when the process completes if you check the notify checkbox.

• Select Submit to run the process.

• You must run Create Accounting after the update.

You can select the payment number, period name, approval status, export status, Payables invoices, and such from the Payment Schedules section. Select the Payable invoices number displayed to open the invoice from Lease Accounting. You can see the Payables invoices originating from payments defined here.

Payment Approval triggers an accounting event for payments with the Lease Liability enabled. You can use this accounting event to reduce the Lease Liability balance.

You can't export the payments with purchase order numbers to Payables from Lease Accounting.

You must have access to the Payables function to launch the import process of Payables invoices.

Missing Accounts During the Payables Process:

The Payables Invoice Import process fails if you don't provide the following accounts:

• Payables Clearing

• Payables Liability

• Noncompliance Expense

• Accrued Liability

You can amend the lease using amendment types and provide the missing accounts. This export process to Payables fetches the missing accounts from payment templates.

You can provide the missing accounts on payment term templates to Payables.