Recent Posts by Vaishali Karanth

Using invoice grouping functionality, multiple payment items can be grouped together and create one invoice. This will help to eliminate the redundancy of creating a transaction for each payment and will also help to decrease the number of payment transactions exported to Payables. Invoice grouping rule can be defined based on the combination of mandatory and optional grouping attributes. The mandatory grouping attributes are always included in payable grouping rules and we...

Oracle Property Manager is readying itself with a 1st Release to enable its customers to comply with IFRS 16 and US GAAP for ASC 842. This release is tentatively planned end of July in all probability as a controlled release. First Release is intended to help its customers to provide reports for "Look Back" period. During First Release of this project, Compliance Reports with ROU and Liability balances, with detailed amortizations and Interest Expense and...

Term template play a very important role in Property Manager as they help users avoid having to enter identical information for multiple payment and billing terms. Payment and billing term templates contain default term details that users can associate with multiple leases, variable rent agreements, and rent increase agreements. As can be seen above, many information like lease purpose, currency, supplier / customer information, transaction type , payment term details, etc....

In Oracle Property Manager, proration rule setup plays a very important role while calculating the rent amount for a lease which is staring / ending in the middle of the period. Based on the proration rule, system divides the monthly / annual rent to derive the daily rent amount and based on that the rent amount for fraction period will be arrived. Here is an example of how the lease amount iscalculated with different proration rules, when the lease is started in the middle of...

Property Manager Development has released a patch to replace the need to run SQL queries to archive historical lease data. The patch creates a concurrent program that users can run at each fiscal month-end to archive the lease data. A patch that enables users to create calculations and generate reports from the archived lease data is planned for a later date. The patch numbers are: 25460193:R12.PN.B - Prerequisite: 12.1.3 delta 6 25460193:R12.PN.C- Prerequisite: 12.2.3 with...

With reference to earlier post on 24th Dec 2016, note that there has been a revision to: Section 2: Purpose of Script  The purpose of this script is revised. The purpose of this script is to archive the lease data for all fiscal month-ends starting in January 2017 until users apply a patch that will be released soon. The patch will enable users to perform the archival using a concurrent program rather than the script. When the patch is applied, usersshould move the fiscal...

A time-sensitive SQL script has been created for customers to archive historical lease data on 31-Dec-2016.  In January, a patch will be released to enable users to archive historical lease data at each month-end, but this will not be available for DEC-16.  This temporary feature is available now via Doc ID 2217593.1 - IFRS16 / ASC842 Look Back Period Archive SQL Script, Release 12.    Look Back Period Requirements: Tenantsof real estate property are required to comply with new...

Landlords and tenants whose companies are publicly traded need to comply with FASB-13 standards for accounting of leases. According to these rules, companies need to normalize or calculate the average rent payments/billings over the term of the lease. These normalized amounts need to be reported as revenue/expense, along with accrued revenue/liability, so that the investment community can accurately analyze the company's financials. Oracleproperty manager rent normalization...

System option set up is the first and the foremost step while implementing the Property Manager without which no further activities can be performed in Property manager. Property manager is a multi org access enabled module and setting up system options helps customize the Oracle Property Manager environment for each operating unit. System options determine your ledger and currency conversion type. System options also control how Oracle Property Manager displays locationaliases...