Insurance Steam Dates Not As Expected When Using the 30th of the Month
Last updated on OCTOBER 05, 2017
Applies to:Oracle Lease and Finance Management - Version 12.2.3 and later
Information in this document applies to any platform.
On : 12.2.3 version, Generate Streams
When accepting an insurance quote that should bill monthly in advance, starting on the 30th of the month, the resulting payment schedule for the active policy is always billing on the last day of the month (30th, 31st, etc) and not on only the 30th (except for Feb) of each month.
Expect the schedule to be created so that the Insurance is billed on the 30th of each month as is done for other Payment streams on the contract.
The issue can be reproduced at will with the following steps:
1. Book a Contract with 1 Asset that starts on the 30th of a Month.
2. Define Rent Payments to be Monthly in Advance (all will be dated the 30th).
3. Create a Lease Quote with the same Effective Dates as the contract
and that also bills monthly in Advance.
4. Accept the Lease Quote.
5. Verify the Stream Element Dates for the Insurance Payment.
They are dated on the last day of each month, and not always the 30th.
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