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Lease - Extension And Due Date Change Posting (Doc ID 2741688.1)

Last updated on MAY 12, 2021

Applies to:

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


Lease - Extension and Due date change posting

Customer uses Rent Factor method lease contract in OFSLL. They want to know how to process Extension And Due Date Change on lease accounts.

1. Extension.

Normal extension transaction code is not allowed for lease. Its showing error message Transaction is not allowed for Rent Factor based Lease.
Can we use LEASE EXTENSION for lease accounts. What is the parameter RESIDUAL PERCENT REMAINING ? How to pass this value? What are the different options for this parameter value?
Please provide some instructions or documentation on Extension process for lease accounts.

2. Due Date change.
When we tried to post the Due date change transaction on lease account, we got error saying Transaction not allowed to post as Statement Consolidation is Y. Transaction Posting Failed.
ACC_STMT_CONSOLIDATE_IND value is Y for all accounts, by default.  When we updated it to N, DDC got posted successfully.

Please provide explanation on this indicator. What is the impact of updating this indicator to N? Where to set this up?


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