One of your ideas has been delivered from your suggestion.Lease Transactions and Balances Report Improvements

Use the Lease Transactions and Balances report to summarize the right-of-use asset and liability balances and changes. Lease administrators can now view the accounted right-of-use asset and liability balances and transaction activity in both the ledger currency and the entered currency. The report details also now include the legal entity associated with the lease.

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.
  3. Submit the process.

The following screenshots describe the process of generating the Lease Transactions and Balances report:

Lease Transactions and Balances Report - Accounted Liability Amounts in Ledger Currency

Lease Transactions and Balances Report - Accounted Liability Amounts in Ledger Currency

Lease Transactions and Balances Report - Accounted Right-of-Use Asset Amounts in Ledger Currency

Lease Transactions and Balances Report - Accounted Right-of-Use Asset Amounts in Ledger Currency

Business benefits include:

  • Improves audit and traceability of lease balances with related transaction activity in both the entered and ledger currency.
  • Simplifies reconciliation of lease transactions and balances for foreign currency leases.

Steps to enable and configure

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

Key resources

Based on Ideas 636346 and 854954 from the Lease Accounting Idea Lab on Oracle Cloud Customer Connect

Access requirements

No new access requirements