One of your ideas has been delivered from your suggestion.Project-Based Expense Lease Payments

Lease administrators can now track lease payments to a project and record the project information on lease invoices created in Oracle Payables for payment processing. Capture these project details on lease payments: project name, task, and expenditure information.

To record project information on expense leases and lease invoices:

  1. Create an expense lease.
  2. Update lease details to provide the Project Number and Expenditure Organization.
  3. Add an asset to the lease.
  4. Create a payment and enter the required payment details.
  5. The Project Number and Expenditure Organization are defaulted to the payment from the lease details. To complete the project information, enter the Expenditure Type and Task Number.
  6. Validate the lease and generate schedules.
  7. Approve and export the lease payments to Oracle Fusion Cloud Payables.
  8. The project information recorded on the lease payment is available on the lease invoices.
  9. Use the lease amendment process to update project details on active leases.
  10. Alternatively, use the Expense Lease Contract Import utility to import new lease contracts and amendments with project details.
  11. Project information can also be recorded when creating Miscellaneous Payments.

The following screenshots describe capturing project information on expense leases and lease invoices:

Update Lease Details page

Update Lease Details page

Create Payments page

Create Payments page

Manage Expense Payments page

Manage Expense Payments page

View Payables Invoice page

View Payables Invoice page

Create Miscellaneous Payment page

Create Miscellaneous Payment page

Business benefits include:

  • Regulate spending with lease expenses tracked against project budgets.
  • Increase controls and simplify reconciliation by associating lease payments with their corresponding project information.

Steps to Enable and Configure

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 26C

Key Resources

Based on Idea 505481 from the Lease Accounting Idea Lab on Oracle Cloud Customer Connect.

Access Requirements

No new access requirements.