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Incorrect Credit Refund Amount Generated (Doc ID 2706908.1)

Last updated on SEPTEMBER 02, 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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Incorrect Credit Refund Amount Generated

Incorrect credit refund amount is generated because when a payment is made the full amount of principal remaining was put in the payment allocation even though the amount of the payment was much less then the remaining principal. The account moved to paid off because the balance was zero. When the paid off was reversed the balance stayed at zero and insurance products and finance charges were rebated which ended up with a much higher credit refund than should have been put on the account. The payment allocation amounts should never add up to more than the amount of the payment and the balance on the account should never change without the appropriate posted transactions that add up to that balance.
Not only does this result in a credit refund amount that is too high it is also causing issues for our GL systems as the transaction amounts on the account do not add up to the balance.

EXPECTED BEHAVIOR
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The payment allocation should always add up to the amount of the payment posted and the balance should never change without corresponding transactions that add up to the balance.

STEPS
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The issue can be reproduced at will with the following steps:
1. Create an account and fund the same for servicing.
2. Run ddt and post payment transaction.
3. Check the payment allocation amounts will never add up to more than the amount of the payment and the balance on the account should never change without the appropriate posted transactions that add up to that balance.

BUSINESS IMPACT
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The issue has the following business impact:
Due to this issue, users cannot post payment transaction which will always add up to the amount of the payment posted and the balance should never change without corresponding transactions that add up to the balance.

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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