This new enhancement would provide a simple and seamless method to migrate leases from a legacy system to EBS Property Manager along with ability to calculate compliance balances by correctly accommodating the effect of any amendments which occurred in the legacy system, and review the compliance balances of the migrated/transitioned leases in draft before the actual migration/transition. This new feature is present with 36778823:R12.PN.C 12.2 Cumulative Update 2024.10 : Property & Equipment Leases: IFRS 16, ASC 842 & SFFAS 54 Compliance Solution.
This enhancement is applicable for leases brought midlife (not new leases) into Oracle Property Manager. It replaces the current Transition process of Oracle Property Manager.
Business Value:
Following business needs are addressed with this enhancement:
- Simple and Seamless migration with ability to migrate leases from legacy System with accurate balances.
- Lease level flexibility to initiate compliance calculation from an user-provided date, which enables users to calculate the compliance balances starting from the last amendment which occurred in the legacy system.
- Ability to upload beginning ROU Balances, allows users to bridge the transitional differences in Net ROU value balance.
- Ability to provide the beginning rate in case of forex payments, allows users to upload ROU balances with the correct exchange rate applicable as per its initiation in the legacy system.
- Ability to author leases with the user defined lease attributes like Lease Amortization Start Date, ROU balances, etc.
- Ability to run historical accruals with a past Property Manager Transaction Date, which is independent of GL Date.
- Ability to mark compliance transactions with a transaction date as per the related booking/amendment date irrespective of GL date.
For more details on migration process please refer: