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New Enhancements Done for Property Manager IFRS and Equipment Lease Solution

Recently a new Cumulative patch is released for the Property Manager IFRS and Equipment leasing solution. The patch details are

12.1.3 - 29789413:R12.PN.B

12.2.X - 29789413:R12.PN.C

In the above cumulative patch, in addition to few regular bug fixes, few major enhancements are also done to the product. Below is the a quick glimpse of those enhancements

  • Linking of Payment Terms :- Currently in Property Manager or Equipment lease, we cannot update most of the attributes of a payment term once it is created. So currently when ever there is a change in any of the attributes of payment term like payment amount, frequency, schedule day etc, we need to contract the existing payment term and create a new one.

  When a new payment term is added as a replacement of outgoing payment term(contracting), the applications treat them as different terms. As a result, the ROU balances are not carried forward +/- remeasurement value and instead, the ROU balance is recalculated.

As a result of recalculation of Liability, the re-measurement amount is not captured but in its place Liability/ROU are calculated afresh from the new term.
To over come this issue, we have released a new API to link an existing payment term to a new payment term that is being added. The API will end date the existing payment term and will create a new payment term with reference to the existing payment term that is being end dated.

  • Cancellation of Options :- Currently once an option is created which is not yet exercised, we can only terminate the option to reverse the effect of it on ROU and Liability balances. Going forward we can cancel an option which is in future date and not yet exercised.
  • Multiple Amendments api for Equipment Leases :- The amendment API for equipment lease has been enhanced to handle multiple amendments in the same period. Going forward, we can perform multiple amendments on a lease not only via application, the same can be done via API as well.

In addition above major enhancements, we have also enhanced the lease expense calculation while performing an amendment. For more details on these enhancement, refer the Property Manager IFRS & Equipment lease Info center Document 2482062.2 .

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