Lease creation and testing

When you set up a lease, you specify the payment schedule and determine the lease classification using the classification test.

You are not required to specify lease types and non-lease components. Payables company is used by Leases.

You can interface leases and lease payments into Lease Accounting.

Before adding leases in Lease Accounting, you must do the preliminary set up of Lease Accounting and set up Payables, Asset Accounting, and Global Ledger. For setup, see the Financials Setup and Administration Guide.