by Christina Yue, Customer Learning Manager |

Lease Administration

Lease Administration, formerly Real Estate Management, is one of the products in the PeopleSoft Asset Lifecycle Management suite. It enables you to manage the entire lease lifecycle – from planning an acquisition all the way through the lease expiration.

Lease Administration interacts with other PeopleSoft modules – lease payments interface to payables, lease receivables to billing and accounting entries to general ledger.

New Rules

The International Accounting Standards Board and the Financial Accounting Standards Board have made many new accounting rules. They’ve agreed that leases are now required to go on the balance sheet and the initial measurement of the lease liabilities. This rule is a little different based on each board. The Financial Accounting Standards Board adopted a dual model approach, which means they have finance and operating leases. Whereas, the International Accounting Standards Board determined that a single model approach with finance leases only was a better representation of lessee agreements.

Things to Remember

These are some key things to know from a customer’s perspective:
Need to have a grasp of your entire population of leases
Better understand what this means to your near-term and long-term leasing initiatives and impact to accounting
In order to address these new guidelines, the team has been extending existing functionality within lease administration with the goal of centralizing all asset management and lease administration leases into a single data structure and user experience. All of these enhancements have been organized into four development phases.

For more information on Lease Administration check out the full video: PeopleSoft Talk with Marc Weintraub: Lease Administration featuring Loida Chez.

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