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Loans Amortization Custom Schedule, for Semi-Annual Payment Frequency, Does Not Calculate Subsequent Due Dates Correctly (Doc ID 1902398.1)

Last updated on FEBRUARY 18, 2019

Applies to:

Oracle Loans - Version 12 and later
Information in this document applies to any platform.


On : 12.1.3 version, Amortization

Amortization Custom Schedule, for Semi-Annual Frequency,  does not calculate the correct Subsequent Date (15 Mar-15 Sep). 
Instead, it calculates as 15-Mar-14-Sep.

The Amortization Schedule is wrong due to this logic.
All due dates of Amortization schedule should have same start date.

Steps to Reproduce:
1.  Create a Loan with Payment Frequency = Semi-Annually, with Term Start date = 01-Apr-2014 for 60 months
It will create Amortization schedule with Due dates as 1-Apr-2014 ,1-Oct-2014, 1-Apr-2015 , 1-Oct-2015 and so on.

2.  Go To: Amorization > Custom Schedule
3.  Check Shift Subsequent Due Dates
Change 1st Due Date to 15th Sep 2014
4.  Now the 1st Due date is 15th Sep 2014
But subsequent dates are:
16-Mar-2015 ,15-Sep-2015, 16-Mar-2016 and so on.




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