Event Date and Transaction Date of Loan Accounting is in Incorrect Period (Doc ID 1536210.1)

Last updated on AUGUST 24, 2016

Applies to:

Oracle Loans - Version 12.1.3 and later
Information in this document applies to any platform.

Symptoms

In R12.1.3, you find that the Loan Accounting is in incorrect period.

The issue ONLY happens for loans that are entered when previous period is open and current period is closed and Application Date and Term Start date are in previous period that is open.

For example, in this case, Nov-2012 period is open and Dec-2012 period closed (not yet opened).

Current product is insufficient because one part of Loan Booking Accounting entry happens in one period (Adjustment Accounting Entry) and the other part of Loan Accounting Entry in Loan happens on system date that may not be the current period for which loan is created. This will always be a reconciling item for loans entered from prior period.

The expectation is that both Loan Booking and Adjustment Accounting entry should happen in the same period.

 

Cause

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