Lease Migration with Gross Right-of-Use Asset and Accumulated Amortization

Capture the right-of-use accumulated amortization balance when importing midlife leases. Account for the gross right-of-use asset balance and the accumulated amortization separately when booking migrated leases.

To create expense leases with the gross right-of-use asset and accumulated amortization balances:

1. Create an expense lease for property or equipment.
2. Update lease details to check the Migrated Lease flag and input the Right-of-Use Basis as Gross.
3. Create an asset and add a payment.
4. Update the accounting details on the payment to input the Gross Right-of-Use and Accumulated Amortization amounts.

The following screenshots describe the process of creating a migrated lease with gross right-of-use asset and accumulated amortization balances:

Lease Details page

Asset Details page

Payment Details - Accounting tab

Business benefits include:

• Simplify compliance with lease accounting standards to record and report the gross right-of-use asset balance and accumulated amortization separately.
• Improve operational efficiency with streamlined accounting when migrating existing portfolios.

Steps to Enable

Use the Opt In UI to enable this feature. For instructions, refer to the Optional Uptake of New Features section of this document.

Offering: Financials  No Longer Optional From: Update 25C

Key Resources

• This feature originated from the Idea Labs on Oracle Cloud Customer Connect: Idea 649599

Access Requirements

You do not need any new role or privilege access to set up and use this feature.