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Status Delivered
Created by Guest
Created on Jul 20, 2022

Log for First Activation of Leases

When a real estate lease or asset lease is activated, it's been observed that accounting review log records that are generated when activating leases tend to be ambiguous. It appears that the log type and comments provided in the logs are constantly ‘Activate’, even when the same lease has been activated more than once. Also, the timestamps for the accounting review log records generated when a lease is activated or reactivated seems to depict the time as to when the action of activating the lease was invoked. It would be ideal in IBM can support the implementation of an enhancement to: • Provide additional log types and/or comments for accounting review log records generated when leases are activated to distinguish between logs for new lease activations and activations of leases after they have been revised, and • Provide a new field to capture the date stamp/timestamp as to when a lease was successfully activated. That is, when all business logic has been executed on the lease after it has been approved and the relevant event journals are created due to the new lease activation This idea will be beneficial for financial accountants in facilitating the reconciliation of the ROU value and total liability for lease additions from the commencement of the lease term. If TRIRIGA has the capability to report on or capture the date stamp/timestamp of the new lease activations on lease records as opposed to relying on accounting dates from journals can be proved useful in the integrations of Tririga and EPMs for monthly reconciliation activities.
Idea priority High
Needed By Quarter
  • Admin
    David Kirwan
    Reply
    |
    Mar 15, 2023

    This Idea was delivered in the recent 11.4 release - please consult the associated release notes - https://www.ibm.com/downloads/cas/US-ENUS223-061-CA


  • Guest
    Reply
    |
    Oct 10, 2022

    Hi David,

    Just wondering as to whether there has been any progress after the group meeting in relation to this Idea and whether it will be included as an enhancement for future releases? My organisation are keen for TRIRIGA to have the capability to report on first activation date for leases to faciliate month-end reconciliation.


    Kind Regards,

    Peter

  • Guest
    Reply
    |
    Sep 6, 2022

    Hi David, Thank you in providing the update. As suggested, the excel references have been attached to the Idea separately. Please confirm if you're able to view the attachments. Hope this helps, Peter

  • Admin
    David Kirwan
    Reply
    |
    Sep 2, 2022

    #publish Peter I will share this idea with the Lease Accounting User Group to see what their collective view would be in terms of future development prioritization. I am moving the Idea to a "Future Consideration" status. The next group meeting is on September 15th.

  • Admin
    David Kirwan
    Reply
    |
    Sep 2, 2022

    #publish Thanks Peter for providing the Use Case. There are two excels references in the Use Case word doc that I am unable to open. Can you attach those to the Idea separately. In answer to your questiion, yes, anyone creating or voting on Ideas will need an IBMid. All the details can be found at Ideas.ibm.com

  • Guest
    Reply
    |
    Aug 31, 2022

    Use Case with business context has been attached. Hoping that the use will support and facilitate the review of the Idea. Peter

  • Guest
    Reply
    |
    Aug 8, 2022

    Thank you David. We are planning to provide a use case to provide business context and to help provide further clarification in support of this idea. May I ask, do people require an IBMiD to vote for this idea? The reason for asking is that users in our organisation are interested in seeking a solution for the idea presented here.

  • Admin
    David Kirwan
    Reply
    |
    Jul 28, 2022

    #publish I plan to review your idea with our team. We meet regularly, and you can expect to hear back from me within 90 days. If you have any additional feedback or thoughts, or if there is anything else I can do, please do not hesitate to reply to this message to continue the conversation.