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IFRS & Equipment Lease - New Bundled Patch is released for 12.2.4 and Above

As we have seen in earlier posts, to adhere to the new accounting standards of IFRS and FASB for Equipment and Operating leases, a major enhancement is done to Oracle Property Manager module and Patch 27606088:R12.PN.B and Patch 27606088:R12.PN.C has already been released.

Now for 12.2.4 and above a new bundled Patch 28332098:R12.PN.C has been released on top of the earlier released patch. This new patch has the fix for below bugs and Enhancement requests

S.No

Bug

Bug/SR/Enhancement

Explanation

1

27841935

TERMINATION TRANSACTION IS INCORRECT FOR SYS DATED TERMINATION

System Dated ACD terminations for Daily calculations have been fixed. This works when the ACD is system dated and the new termination date is >= system date

2

28067767

PAYMENT TERM SUPPLIER DETAILS DOES NOT DEFAULT FROM TERM TEMPLATE.

PAYMENT TERM CURRENCY FIELD DOES NOT DEFAULT FROM TERM TEMPLATE

Currency and Supplier Site not defaulting onto the payment terms in Equipment Leasing

3

28124954

UNABLE TO RUN ACCRUALS ON THE LAST DAY OF THE PERIOD

Accruals will still be created only for completed periods. However the accrual transaction date will be dated as last day of the previous period if that is open period else the current logic of first of current period will be applicable

4

28140347

SERIAL LOCATION CODE IS NOT DISPLAYING THROUGH ASSETS API

Serial location code is now corrected for Equipment Leases. Earlier this serial location code provided from create api was not getting displayed

5

28169219

IFRS16 PATCH 2 - LEASE FORM ERROR AFTER FILLING UP OPTION

Options could not be entered if the lease was in "Draft" status. The form was not saving data. This issue has been fixed. This issue was only seen in Property Manager

6

28186785

PERIODICAL CALCULATIONS ALSO IMPACTED WITH IRREGULAR CALENDARS

Calculations were failing for ledgers with Calendar which had multiple period types. Since overlapping start and end dates were being fetched by the sytem, calculations were failing. We now solutioned to pick the period start and end dates for only the default period type for the ledger

7

28293176

TERM TEMPLATE- SUPPLIER SITE LOV SHOWS SITES ACROSS OUS

Supplier sites were not getting filtered based on OU assignment. This is now made org-stripped

8

28297196

LEASE DETAILS REPORT-DAYS INCORRECT FOR FEB & MAR IN LEAP YEAR

Number of days for Lease Detail Report for the months of Feb and March in a leap year is now corrected for equipment leases

9

28348600

IFRS -TERMINATION EVENT IS NOT GENERATE

Future dated ACD termination solutioned for "Daily" calculations. The termination of the payment term will happen as per the ACD for the termination. Similarly all amendments going forward will follow the ACD date for addition of terms or renewals.

10

 

RENEWALS WITH FUTURE DATED AMENDMENT COMMENCEMENT DATE (ACD)

If the ACD is into the future, daily calculations have been corrected for Renewal of lease/Extension

11

Enhancement

NEW PUBLIC APIS FOR AMENDING LEASES

A new public api for Amendment of Leases now provided for equipment leases. This will help the users to manage frequent amendments in this area for change of location of the asset, employee associated, Cost Center etc

 

12

Enhancement

VIEW TRANSACTION PAGES FOR AP INVOICES

View Transactions page enhanced to display AP Transactions originating from Property Manager. The accounting for those invoices is also displayed in View Transaction page. This page is now common to PN and Equipment and all the leases from both the areas can be viewed in this page

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Comments ( 2 )
  • Sri Tuesday, December 4, 2018
    Do we have property manager functionality in Oracle Cloud? Is this under financial cloud or is there anything like Real Estate Management Cloud?
  • Vaishali Monday, December 31, 2018
    Currently property manager is not available in cloud

    Regards
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