Revolving Loan: Principal Pay Down not Allowed when Interest Invoice has Been Generated
(Doc ID 2308002.1)
Last updated on FEBRUARY 22, 2019
Applies to:Oracle Lease and Finance Management - Version 12.2.5 and later
Information in this document applies to any platform.
On : 12.2.5 version, Customer Service
Principal paydown is not allowed to be made for Revolving loan contracts when an Interest Invoice has been generated for that period.
The issue can be reproduced at will with the following steps:
1. Create and Book a Revolving loan Contract that starts on 17-Feb-17. This contract has 15 print lead days
2. Process CRVRI and Billing as on 02-Mar-17. This will create an Interest invoice dated 2-Mar-17 and will cover interest for the period from 17-Feb-17 to 16-Mar-17
3. Lessee makes a Principal paydown on 14-Mar-17 (System date is also 14-Mar-17)
4. Navigate to 'Lease Center' and query the above contract
5. Initiate a Principal Paydown for the contract - dated 14-Mar-2017 - and we get an error as 'APP-OKL-441815: Please enter a Principal Paydown Date that is after the last billing date (16-Mar-17)
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