One of your ideas has been delivered from your suggestion.Lease Classification, Party, and Legal Entity Update in Expense Leases

Edit expense lease contracts to change the lease classification, party, and legal entity prior to activation. Users can edit Party Name, Legal Entity, and the Primary and Secondary Lease Classification on draft leases. Validations ensure all information is correct before generating cash flows and amortization schedules.

This screenshot indicates the fields used to edit the legal entity, party name, and primary and secondary accounting classifications on draft expense leases.

Update Lease Details Page

Update Lease Details Page

Business benefits include:

  • Improves operational efficiency with streamlined lease edits to draft leases for lease classification, legal entity, and party changes.
  • Simplifies the lease creation process and eliminates manual effort to cancel and re-enter leases for changes to lease attributes.

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 26B

Key Resources

  • Based on Ideas 736225 and 743134 from the Lease Accounting Idea Lab on Oracle Cloud Customer Connect

Access Requirements

No new access requirements.