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Payment Refund Reversal transaction not updating the account as expected when back dated payment posted after payment refund (Doc ID 2646041.1)

Last updated on MARCH 07, 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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Account Balances are not getting updated correctly when backdated payment is posted after payment refund transaction and expense transaction.

EXPECTED BEHAVIOR
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Account Balances should be updated correctly when backdated payment is posted after payment refund transaction and expense transaction..

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

1. Select an Account from Customer service where refund is eligible for that customer
2. Post a payment refund transaction for that account
2. Post an expense transaction on the same day
3. Post a payment transaction with backdated date (Date prior to the transaction effective date posted in step 1 & 2)
4. Go to account and Check payment Allocation
5. Check allocation of Servicing Expense "Payment Excess - Servicing Expenses". No Allocation made
6. Balances tab shows amount paid for servicing expense even though no payment allocation for servicing expense.
7. Check the Payoff amount which is not correct.
 

BUSINESS IMPACT
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The issue has the following business impact:

Due to this issue, account balances are not in sync and users not able to understand the reason behind

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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