Financed Fee not Created on Contract Validation when Asset Upfront Tax is = Financed
Last updated on JUNE 14, 2017
Applies to:Oracle Lease and Finance Management - Version 12.1.3 and later
Information in this document applies to any platform.
On : 12.1.3 version, Lease Authoring
Financed Fee not created on Contract validation when Asset Upfront Tax is = Financed
As per standard OLFM Functionality, when the 'Asset Upfront Tax' is set as 'Financed' (in the Contract T&C), the Contract validation process should create a 'Financed Fee' on the contract. This feature has been working fine till now.
But for an instance that has the OLFM Delta 30 Patch applied, this feature is not working as expected. When the 'Asset Upfront Tax' is set as 'Financed' - and the contract validation completes, it is NOT creating the required Financed Fee.
The same feature is working fine on instances where we have not yet applied Delta 30 patch
Expect the financed fee to get generated by the system.
The issue can be reproduced at will with the following steps:
1. Responsibility: Lease Super User
2. Create a Contract
3. In the T&C for Tax, select the Asset Upfront Tax as ‘Financed’
4. Add an Asset to the contract
5. Add a payment line for the asset
6. Validate Contract - and validation completes successfully
7. Click on 'Next' to go to the next tab
8. The next tab ‘Calculate Upfront Tax’ does NOT show any value for the ‘total Upfront Tax Financed’. It also does NOT show the Upfront tax details section to update the payments for the Upfront tax financed fee
9. The expectation is that it should automatically have created the required 'Financed Fee' on the contract - and allow the user to update the payment details for this financed fee
10. This issue is seen only on instances where the OLFM Delta 30 patch has been applied
Sign In with your My Oracle Support account
Don't have a My Oracle Support account? Click to get started
My Oracle Support provides customers with access to over a
Million Knowledge Articles and hundreds of Community platforms