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Lease Administration Navigation Collection

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The Lease Administration navigation collection was added to the PeopleSoft Fluid User Interface with release of FSCM Image 20. This navigation collection groups common functionalities used in Lease Administration in a single location.

More and more functionality is moving to FLUID and the Lease Administration navigation collection is one additional example. There are few tricks and tips to make the navigation collection available in the FLUID Homepage – follow these simple steps.

Step 1: Click on the three lines in the upper right to expose the configuration panel.

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Step 2: Click on the PERSONALIZE HOMEPAGE and it will bring you to the ability to configure.

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Step 3: Click on ADD TILE in the upper right. It will then bring up the FSCM Navigation Collections and choose Lease Administration.

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Step 4: Save your Homepage and Lease Administration will show up as a tile.lease-administration-4

Then users can click on it and the navigation collection appears in FLUID.

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If you would like more information on FLUID or Lease Administration, please email me at larry.zagata@miproconsulting.com.

 

PeopleSoft Lease Administration Deep Dive

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FASB 13 Straight-line Accounting Entries
(Formerly Real Estate Management)

Did you know that PeopleSoft Lease Administration has the capabilities to meet your straight-line accounting requirements? PeopleSoft Lease Administration can help your organization provide more accurate accounting information, reduce errors and reduce processing time.

PeopleSoft Lease Administration 1

All you have to do is set up your lease payment schedule and pop over to these guys for the straight-line accounting feature can automatically create your necessary journal entries in compliance with FASB 13. This process can be run with multiple options and tailored to fit your accounting process.

PeopleSoft Lease Administration 2

By utilizing the straight-line accounting your Real Estate Department can focus on what it does best – managing the lease portfolio and lease payment schedules. Your Finance Team will automatically have the straight-line journal entries they need so they can focus on what they do best – managing the General Ledger. Regardless of the payment schedule length, amounts, concessions, etc., PeopleSoft Lease Administration can automatically calculate the straight-line journal entries you will need each month and automatically post the straight-line journal entries to your specific GL accounts. All this without requiring any additional effort from either team and delivered within a timely manner.

You are probably saying to yourself, “This CANNOT be true!” Well, I am here to tell you – it IS true and PeopleSoft Lease Administration has made it ALL possible. Click here to contact us today to learn more.

Thank you for reading and be sure to read our other Real Estate Management BLOGS too.

Regards,

Steven Brenner, CPA
Senior Principal Consultant

PeopleSoft Real Estate Management Overview Part 6: Lease Administration Walk-through

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Editor’s note — here are all the posts in this series for easy reference:

We’re continuing our exploration of lease administration in PeopleSoft Real Estate Management from last week.

Today, we’re going to do a walkthrough on amending a lease by navigating to the Lease Administration Center and clicking on the Maintain Lease link under Payables Leases.  Then from there we will open a lease and select Manage Amendments from the Action menu and click the Go button which opens the Amendment History page.

Here we can see all the amendments for this lease and by clicking on any of the amendment link numbers, and you can drill down to see further detail of each amendment.  To continue, let’s add another amendment by clicking the Add button which opens the Edit Amendment Details page.  On this page you will fill out the fields Amendment Type, Reason and Notes.  Please note that the Amendment Type and Reason are both user defined fields where you control all the values.

When you have competed filling out this page, click the Continue button and this will open the Maintain Lease page In the ***Editing Pending Amendment*** mode.  For our amendment, let’s change the Termination date to 07/31/2015 and then click on the Financial Terms tab.

On the Financial Terms tab we have many options, and for the purposes of this discussion, we will click on the Base Rent link to change the Base Rent amount which opens the Base Rent Details page.  This is where you can change the rent amount per the new terms.  Once you have the new base rent amount ($12,500.00) in place, click the OK button to return to the Financial Terms tab.

Once back on the Financial Terms tab, you can see the new End Date and the new Base Rent amount.   To accept the new amendment click the Save button and click the Return to Amendments History link which brings you back to the Amendments History page.  Here you will see your new amendment which will be in pending status with available options to edit, delete or activate.  Once the amendment has been activated, the amendment process is completed and your changes will be reflected in all future transactions.  Also note that in the status field any amendment that is superseded by another amendment will have the status of replaced.

To review (and summarize) our last two weeks’ worth of Real estate Management discussion, PeopleSoft allows you to control your lease changes in two ways while provide effective safeguards:

  • In Maintenance mode, Real Estate Management allows you to only change certain non key financial fields while protecting all fields that affect the financial obligations of the lease.
  • In Editing Pending Amendment mode, Real Estate Management allows you to change fields that do affect the financial obligations of your lease while providing an activation process that controls your changes.  In addition the system provides a Lease Amendment History page for each lease which allows you to track all your amendments.

Next week, in the next installment of this PeopleSoft Real Estate Management series, we will be take a deeper look at configuration options.