One of your ideas has been delivered from your suggestion.Lease Reporting for Prior Periods

Use the Lease Disclosures report and the Lease Transactions and Balances report to summarize lease expenses, cash flows, future lease payments, weighted average items, right-of-use asset, and liability balances and changes.

Lease administrators can now generate the Lease Disclosures report and the Lease Transactions and Balances report for any period range in the current year or prior years.

To generate the Lease Disclosures Report:

  1. Select Generate Lease Disclosures Report from the side-panel.
  2. Complete the below parameters according to your requirements to identify the leases to be included:
  • Business Unit: Optional. Select a Business Unit to generate the report for a specific business unit.
  • Legal Entity: Optional. Select a Legal Entity to generate the report for a specific legal entity.
  • Ledger: Mandatory. Select a Primary or Secondary Ledger.
  • Lease Number: Optional. Select a Lease Number to generate the report for a specific lease.
  • Financial Year: Mandatory. Select a Financial Year. Valid values are the current and previous financial years.
  • To Period: Optional: Select a period within the current financial year to generate the report up to the selected period. If no period is selected, then the report is generated up to the most recent open period when run for the current financial year or till the end of year when run for the previous financial year.
  1. Submit the process.

Generate Lease Disclosures Report

Generate Lease Disclosures Report

To generate the Lease Transactions and Balances Report:

  1. Select Generate Lease Transactions and Balances Report from the side-panel.
  2. Complete the below parameters according to your requirements to identify the leases to be included:
  • Business Unit: Mandatory. Select a Business Unit.
  • Legal Entity: Optional. Select a Legal Entity to generate the report for a specific legal entity.
  • Lease Number: Optional. Select a Lease Number to generate the report for a specific lease.
  • Financial Year: Mandatory. Select a Financial Year. Valid values are the current and all previous financial years, up to the last 15 years.
  • From Period: Optional. Select a From Period within the financial year to generate the report starting from the selected period or leave blank to generate the report starting from the beginning of the selected financial year.
  • To Period: Select a To Period within the financial year to generate the report up to the selected period or leave black to generate the report up to the most recent open period in the selected financial year.
  1. Submit the process.

Generate Lease Transactions and Balances Report

Generate Lease Transactions and Balances Report

Business benefits include:

  • Simplify compliance with lease disclosure reporting for year-end and ad hoc reporting.
  • Improve audit and traceability of lease balances with related transaction activity.

Here's the demo of these capabilities:

Steps to Enable

You don't need to do anything to enable this feature.

Key Resources

  • Based on Ideas 730908, 682465, and 780526 from the Lease Accounting Idea Lab on Oracle Cloud Customer Connect

Access Requirements

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