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Sub Ledger Accounting Configuration for Property Manager IFRS Accounting

Financial reporting for leasing businesses around the world is going to be impacted as a result of changes to the leasing Accounting Standards under IFRS and US-ASCs (US GAAPs). These new accounting standards will be enforced, starting December 2018 and January 2019 and thus leasing applications like Oracle Property Manager need to prepare for the changes.

As a part of this enhancement, our phase 2 solution was mainly focused on generate accounting for various events in the life cycle of lease from tenant’s perspective.  Post applying patch 27606088:R12.PN.C, different accounting events like Booking, Revision, Accrual events will get generated in Property Manager and will get transferred to General Ledger when create accounting is run and these accounting lines will flow through Subledger Accounting (SLA) tables.

For create accounting to process these new accounting events, certain setup needs to be done in subledger accounting. This involves setting up ADR rules, Journal line types, Journal line definition for

  • IFRS Configuration in Primary Ledger

  • FASB(ASC842) configuration in Secondary Ledger

  • Seeded Property Manager configuration for Normalization Accounting

For more details on the required setup in Subledger Accounting, please refer document 2396463.1.



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Comments ( 2 )
  • Rupa P Friday, May 10, 2019
    Hi Vaishali, Please point us any documentation or while palaver on how to handle allowances and free rent in property management. I appreciate your help

  • Vaishali Saturday, May 18, 2019
    Hi Rupa

    There is no white paper which explains how to handle the above case. But you can log an SR and we can explain you the work around to handle the rent free period.

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