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Wrong Maturity Date Calculation In Lease Calculator (Doc ID 3012821.1)

Last updated on MARCH 27, 2024

Applies to:

Oracle Financial Services Lending and Leasing Cloud Service - Version 14.12.0.0.0 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
----------------------------
Wrong maturity date calculation in Lease calculator

Calculated maturity date in lease calculator for month end contract date(29-FEB-2016) is not correct.

Users provide below input to replicate this issue in lease calculator.

Calc method: AMORTIZED, Contract dt : 29-FEB-2016,First pmt dt : 29-FEB-2016,Maturity Dt Basis : Effective Dt,Term : 6,Billing cycle : Monthly

EXPECTED BEHAVIOR
-----------------------
Application is Expected to show the maturity dt 31- Jul-2016 but calculated maturity dt is 29-Jul-2016.

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Open the tools calculator in the application.

2. Enter the values as mentioned above in the tools lease calculators.

3. Verify system calculate the maturity date in lease calculator for month end contract date(29-FEB-2016) is correct or not.

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, users cannot have maturity date calculation in Lease calculator.

Cause

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In this Document
Symptoms
Cause
Solution


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