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Int Rebate Calculation When Rebates Already Applied (Doc ID 2633604.1)

Last updated on FEBRUARY 01, 2020

Applies to:

Oracle Financial Services Lending and Leasing - Version 14.4.0.0.0 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
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Finance charge rebate calculation for an account is not correct, when there is a finance charge rebate already applied on the account.

Example: If VSC( Vehicle Service Contract) attached to the contract is cancelled and then the payoff payment is done, interest rebate transaction is > what is in the payoff amount calculated. This results in generating credit refund to customer.

EXPECTED BEHAVIOR
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When there is a payment posted for payoff amount, system should calculate the finance charge rebate calculation as per the payoff quote amount. 

STEPS
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The issue can be reproduced at will with the following steps:

1.Select an Account which has VSC contract attached to it and it is valid

2.Post a VSC cancellation transaction

3.Generate pay off quote

4.Post a payment for the pay off amount

5.Check the interest Rebate transaction

BUSINESS IMPACT
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The issue has the following business impact:


Due to this issue, Customer ends up paying credit refund to customer that is not required

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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