PACCINTG: PRC: Generate Capitalized Interest Transactions Program Not Calculating Capitalized Interest Amount Correctly (Doc ID 2898081.1)

Last updated on SEPTEMBER 28, 2022

Applies to:

Symptoms

The PACCINTG: PRC: Generate Capitalized Interest Transactions program is not calculating capital interest amount correctly.

Steps
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Using a Projects responsibility
1. Navigate: Submit >> Request
2. Run the "PRC: Generate Capitalized Interest Transactions" program for period = AUG-22.
3. Navigate: Capitalized >> Review Interests Run.
Select Period Run "AUG-22" and click Find.

The Review Interests Run form shows:
Total Basis Amount = 42,017.50
Rate Multiplier = .0465

Capital Interest Amount = 6,736.20 which is incorrect.

The calculation should be: 42,017.50 * .0465 / 12 = 163

Cause

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