2.10.1 Overview

This topic provides an overview of the gross lease receivable.

As part of International Financial Reporting Standard (IFRS)16, the ‘Gross Lease Receivable’ entries are passed to record GL transactions for the full value of the lease contract future payment, including interest.

Currently, 'Oracle Financial Services Lending and Leasing' only calculates the financed amount part of the lease contract. As part of the change:

• The total GLR in 'Oracle Financial Services Lending and Leasing' reconciles with the total GLR in the GL balance sheet, for auditing purposes.
• The GLR is re-classified to lease receivable during the month end accrual/accounting processes. The payments received are applied against the lease receivables.
• If the lease is terminated early, the balance on gross lease receivable is cleared against unearned income and asset value.