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How does Leased Assets work with AP

I am looking into using the Leased Asset Module in 8.8 SP1. I have found in Peoplesoft Books how to create the Leased Asset and Payment Schedule. My question is does the Payment Schedule generate an Invoice to AP to pay? I couldn ot find this anywhere.

We are planning on using it to mainly track contracts for Leased equipment. However if we could use it to generate payments as well that would be great.

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Permalink Reply by Dwight Martin on March 4, 2010 at 9:51am

As for the payment of Leased equipment, the best way or the way designed by PeopleSoft is to create a Recurring Voucher for the equipment. I do not believe there is a mechanizism to transfer a payment request to AP from the Asset Module.

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Permalink Reply by Art Flower on March 4, 2010 at 10:27am

I have encountered this situation in the past at clinet sites and found that the leased asset payment schedules do not have a direct link to AP, but can be uploaded to AP from an Excel spreadaheet using the component interface.

AJ

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Permalink Reply by Dave on March 4, 2010 at 10:32am

The other thing you can look at is the Real Estate Module that is new in the PeopleSoft 8.9 and higher releases. Although it is specifically geared to managing property leases you may be able to leverage it for other forms of leases as well.

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Permalink Reply by Frank Garin on March 4, 2010 at 11:12am

Sounds like a client i had in va -
in 8.9 leased assets do not generate a payment to AP --

This client had implemented this functionality as a customization -

Suggestion was to use a reoccurring voucher for the lenght of the lease to generate payments, and let AM generate the depr and int acctg entries.

Might want to enter this as a ?? to psft.

Regards
Frank