Payment Templates by Asset Type

Define payment templates by asset type. Lease administrators use payment templates to enable defaulting of payment attributes, account code combinations, and transaction tax attributes during lease payment creation. The payment templates now include attributes specific to property or equipment asset types.

To create and use payment templates by asset type:

1. Navigate to Setup and Maintenance and select the task Manage Lease Accounting Configuration.
2. Navigate to Search Expense Lease Payment Templates to create a new expense lease payment template.
3. Select Asset Type:
   • Equipment: Indicates that the template may only be used for creating payments on an equipment lease. 
   • Property: Indicates that the template may only be used for creating payments on a property lease.
   • Equipment and Property: Indicates that the template may be used for creating payments on both equipment and property leases.
4. Enter required attributes and update the template status to Active.
5. Create an expense lease and add an asset to the lease.
6. Navigate to the Payments tab and create a payment.
7. The list of values for Payment Templates displays templates filtered based on the asset type selected on the lease.

The following screenshots describe creating and using payment templates by asset type:

Create Expense Lease Payment Template page

Update Expense Lease Payment Template page

Expense Lease Details page

Create Payment page

Business benefits include:

• Reduce time and data entry effort to create leases through the automated defaulting of payment information.
• Enforce accounting and operational policies across your organization for property and equipment leases.

Steps to Enable and Configure

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

Key Resources

Based on Idea 789542 from the Lease Accounting Idea Lab on Oracle Cloud Customer Connect.

Access Requirements

No new access requirements.