Insurance Expense Accrual and Insurance Adjustment Streams Are Incorrect after Rebook (Doc ID 3059828.1)

Last updated on NOVEMBER 19, 2024

Applies to:

Symptoms

Insurance Expense Accrual and Insurance Adjustment streams are incorrect after Rebook.

When contract has insurance policy attached and Insurance payment is done for 1st period and accrual is generated. Upon rebook of contract from contract start date, reversal of accrual stream and Reversal of insurance payment (insurance adjustment stream) are showing incorrect values
Insurance Exps Accrual done for 3 month= 2000 per month = 6000 total
Insurance payment to insurance provider= 24000
Rebook as of 1st day of contract
Expected Accrual reversal and insurance payment reversal is 6000 and 24000 resp
But system shows Accrual reversal as 6129.03 and Insurance payment adjustment as 24129.03.

STEPS
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1. Using lease super user responsibility, create a lease contract with insurance quote added and book.
2. Activate policy from lease Center.
3. Run insurance payment program for 1st year and AP disbursement request set and verify insurance payment is generated.
4. Run accrual for 3 months.
5. Verify Insurance expense accrual is generated.
6. Rebook contract from 1st of the contract start date add new asset on contract.
7. Complete rebook.
8. Run AP disbursement program and notice the insurance adjustment stream for insurance payment is incorrect.
9. Verify Accrual after rebook and noticed the insurance expense accrual reversal is incorrect.

Changes

Cause

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