Is this possible in Oracle Property Manager to record

rent prepayments for payments and billings (AP/AR)

without finalize the lease?
YES this is possible in oracle property manager (R12) for both Revenue and Expense leases.
PURPOSE:

This document will assist you in using the prepayments Rent/Billing functionality in Release R12. It will
even take you through the process of creating prepayments for expense leases and testing purposes.
How to create prepayment invoice through oracle property manager before finalize the lease
SCOPE & APPLICATION:

If the user is already knowing the process how to create the lease then its good because lease creation
process is same, below steps can be followed by a user.

Prerequisites:
1- Lease status should be (LOF)Lease Ordered or (SGN)Signed
2- Frequency should be One Time
3- Billing/Payment terms should be Non-Normalized

Go To property manager responsibility.
Leases and documents > Main Lease ..> Enter Leases and Documents.
Step 1 Enter Lease:

New
Enter required details for lease creation as shown in below screen shot.

Note: Make sure lease status should be Lease Ordered or Signed this is mandatory for prepayment
creation otherwise system will not create the prepayment schedule and items.
Step 2 Enter Lease Details:

Step 3 Enter Location Information:

Step 4 Enter Payments details:


Step 5 Enter Prepayment term (Line):
Here you can attach prepayment temple if you created otherwise enter prepayment line manually.
Note:
1- Payment term type should be Prepayment (If you want to select Deposit or other system
will create schedule for that line also but that line should be no-normalized with once time
frequency) Target date is mandatory for prepayment line but this date should not be before
or after lease key dates as soon as you save the lease property manager will creates schedules &
items for all onetime non-normalized terms.


Save the lease.
System will popups small window as shown below in screen shot click YES

As soon as you pressed YES system will generate schedules and items for prepayment line.
Click OK and check the output.


Step 6 View the schedules and item output report:
View..>requests..>Find

You can see prepayments schedules & items output report in above screen shot.
Further you can check the accounting and invoice so do authorization and export this schedule to AP
and then import in AP through Oracle Payables Interfaces.
Once contract signed and date are confirmed then retrieve the lease and change the status from (Lease
Ordered/Signed) to ACTIVE and approval status as Final Oracle Property Manager runs the
Schedules and Items concurrent program and creates billing/payment schedules based on given
frequency.
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Oracle Property Manager User Guide Reference
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Approval Status of Lease
A lease can have either Draft or Final approval status. The approval status of the lease
determines what actions you can take regarding two areas of the lease abstraction
process: making changes to the lease, and generating payments and billings.
Changes to the lease: If the lease is in draft status, you can modify, delete, or
add to the existing lease information. If the lease is in final status, you cannot
make changes to the lease unless you perform an edit or create a lease
amendment.
Payment and billing schedules: When you enter payment or billing terms in the
Leases window and change the lease approval status from Draft to Final, you
initiate the process that creates scheduled payments or scheduled billings. See
Approval Rules for Schedules.
Lease Statuses
The lease status describes the position of the lease in the lease life cycle. Oracle
Property Manager provides the following lease statuses:
Active: Signifies that the lease is within the agreed lease term.
Holdover: Signifies that the tenant retains possession of leased property after the
lease expires. The landlord, by accepting rent, agrees to the tenant's continued
occupancy.
Lease Ordered: Signifies that the landlord and tenant have committed to the
general terms of a lease. However, they have not finalized the lease because of
certain open issues. You can make or receive one time non-normalized
payments, such as security deposits.
Month-to-Month: Signifies that the tenant leases the property for one month at a
time. You can create a new lease in this status. However, this status is used
most commonly when a lease expires and the landlord and tenant have not
finalized a new agreement to continue the tenancy.
Signed: Signifies that the landlord and tenant have signed the lease. However,
certain pending issues may prevent you from finalizing the lease. As in the case
of the Lease Ordered status, you can make or receive one time non-normalized
rent payments.
Terminated: Signifies that the lease agreement has ended.
Using the Lease Ordered and Signed Lease Statuses
Use the Lease Ordered (LOF) and Signed (SGN) lease statuses to schedule payments or
billings and transfer transactions to Oracle Payables or Oracle Receivables before you
finalize the lease. To finalize the lease, you must also change the Approval Status of the
lease.
When you save a lease with a status of LOF or SGN, Oracle Property Manager creates
schedules and items for all one-time non-normalized terms.
Note: Accounting guidelines state that you cannot normalize payment or billing terms
until you finalize a lease. Accordingly, Oracle Property Manager does not normalize
terms while a lease is in SGN or LOF lease status.
Oracle Property Manager runs the Schedules and Items concurrent program each time
you create one-time payment or billing terms. After you save your work, the limitations
for modifying terms in a finalized lease apply to modifying these one-time lease terms.
See Lease Modifications, Oracle Property Manager User Guide.
In other respects, the lease functions as a draft lease. Therefore, you can freely edit
other lease attributes, including the lease commencement date and the attributes of the
other lease terms.
Important: If you change the lease commencement date, Oracle Property Manager
does not automatically change the dates for any of the lease terms.