Fund Allocation - Incorrect Interest Rate Picked Up On First Day Of Month (Doc ID 2955230.1)

Last updated on JUNE 14, 2023

Applies to:

Symptoms

On : 11.3.0.30 version, Fund Allocation

ACTUAL BEHAVIOR
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On Fixed Funds with Compound Interest type, OIPA system is picking incorrect current rate whenever the rate change is effective from first day of Month.
When the rate effective date is on the first day of Month, LPAT picks last month’s rate for the first day of the month and latest rate for rest of the days for the month end activity.


EXPECTED BEHAVIOR
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The cash and interest values should be calculated accurately for the Fixed Funds with compound interest type.
The current rate to be picked up on the first day of the month.


STEPS
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The issue can be reproduced at will with the following steps:.
1. Create a Fixed Fund.
2. Add Interest Rate Calculation Rule Override with Compound Interest Type.
3. Add current Interest Rates with Date Criteria effective date effective every first day of month.
4. Configure Transactions to perform ApplyByFund on the Fixed Fund on month end Dates
5. Process Transactions and perform Fund Allocations.
6. Validate the Cash Values with each Transaction.

Cause

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