Decimal Difference Shown Between Principal Balance and Beginning Balance in Amortization Schedule of a loan (Doc ID 2719504.1)

Last updated on OCTOBER 13, 2020

Applies to:

Symptoms

The user is not able to close the Loan by pay-off or raising a manual bill because of decimal difference noticed for principal balance of a loan.

Error Message on raising a manual bill for pre-closure:
"Principal bill amount cannot be greater than loan remaining balance"

Example:
Principal Balance of the loan is shown with amount = INR 16915.56 whereas as per Amortization Schedule, the Beginning Balance is shown with amount = INR 16915.53 at Payment # 13.
This causing a difference of INR 0.03.

Cause

My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.