Download Leasing User Manual - Oracle Documentation


Authorized

Unauthorized
Product Category
Specify a valid category that should be displayed. This adjoining option list displays all valid
categories maintained in the system. You can choose the appropriate one. Hence, this
module deals with leasing, you have to specify the category ‘Leasing’ in this field.
Lease Type
Select the type of lease from the adjoining drop-down list. This list displays the following
values:

Financial

Operational
Record Status
Select the status of record from the adjoining drop-down list. This list displays the following
values:

Open

Closed
Product Code
Specify a valid code that should be displayed. This adjoining option list displays all valid codes
maintained in the system. You can choose the appropriate one.
Lease Payment Mode
Select the mode of paying the lease from the adjoining drop-down list. This list displays the
following values:

Advance

Arrear
After specifying any or all of the aforementioned details, click ‘Search’ button to view the
details of lease maintained in the system. The system displays all the available records based
on the details specified in this screen.
You can double click on anyone of the displayed records to view the product detailed screen.
4.4
Processing EMI on Lease
The Equated Monthly Installment (EMI) is a fixed payment amount which is used to pay off
both interest and principal each month. For the computation of EMI, the following formula
should be defined in ‘Book Formula’.
EMI Formula for Financial Lease
According to the payment type the formula for financial lease varies.
For Payment in Advance,
EMI = C
RV
C – -----------------n1 + I
EMI = -------------------------------------------1
1 – -----------------------n–1
1 + I
1 + ---------------------------------I
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