Not Able To Create Principal Paydown Against A Revolving Loan
Last updated on MARCH 08, 2017
Applies to:Oracle Lease and Finance Management - Version 12.1.3 and later
Information in this document applies to any platform.
When trying to create a new Unscheduled Paydown (aka Principal Paydown) on a Revolving Loan, none of the buttons (Accept Paydown, New Payments, Refresh or Calculate Payment) are active.
Expect to be able to process an Unscheduled Paydown on a Revolving Loan, so the relevant buttons should be active.
The issue can be reproduced at will with the following steps:
We completed the following steps for our testing:
• Created and Booked a ‘Revolving Loan’ contract
• Created funding (Borrower Payment), transferred to AP, Validated and paid invoice
• Submitted the ‘Update Loan Balances’ program. ‘Outstanding Principal’ in Lease center now shows funded amount
• Processed the CRVRI program. It calculated the interest amount due on the outstanding Principal balance
• Processed the accrual program
• Processed the Lease billing program – and it has created the Interest Invoices in AR
We then wanted to test the Principal paydown for the above contract.
• We queried the Revolving Loan contract in Lease Center
• In ‘Requests’ tab, selected ‘Type’ as ‘Unscheduled Paydown’ – and clicked on ‘New’
• We enter the Paydown Date and the Paydown Amount on ‘Unscheduled Paydown Request’ tab
• The screen shows the ‘Current’ and ‘new’ Principal balance
• But after this, none of the other buttons are active (Accept Paydown, New Payments, Refresh or Calculate Payment)
• Due to this, we are NOT able to complete the Principal Paydown
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