My Oracle Support Banner

Oracle Loans Uses the Exchange Rate From the Date the Loan Was Created Instead of the Date the Loan is Billed (Doc ID 2970411.1)

Last updated on AUGUST 25, 2023

Applies to:

Oracle Loans - Version 12.1.3 to 12.2.12 [Release 12.1 to 12.2]
Information in this document applies to any platform.

Symptoms

When creating a loan in a foreign currency, the entire loan is billed at the exchange rate entered when the loan was created, not the exchange rate when the loan was billed.  If the loan has 12 installments, all 12 installments will be created with the exchange rate on the date the loan was created.

Steps to Reproduce:

Responsibility: Loan Agent
Navigation: Loans Dashboard

  1. Create a 12 month loan in a foreign currency with a start date of 15-JAN-2023.  Exchange rate on 15-JAN-2023 is 1.5
  2. Approve the loan.  The first installment is created on 15-FEB-2023.  The exchange rate on 15-FEB-2023 is 2.  The invoices in Receivables are created with an exchange rate of 1.5, and not 2
  3. The second installment is created on 15-MAR-2023. The exchange rate on 15-MAR-2023 is 3. The invoices in Receivables are created with an exchange rate of 1.5, and not 3

Cause

To view full details, sign in with your My Oracle Support account.

Don't have a My Oracle Support account? Click to get started!

In this Document
Symptoms
Cause
Solution


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