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Partial Payment Of Component PREFIX Is Not Updating Properly In COMPOUND_INTEREST Table (Doc ID 2868139.1)

Last updated on MAY 17, 2022

Applies to:

Oracle Banking Corporate Lending - Version 14.5.0.0.0 to 14.5.0.0.0 [Release 14]
Information in this document applies to any platform.

Symptoms

On : 14.5.0.0.0 version, Implementation Support

Issue : Partial payment of component PREFIX is not updating properly in COMPOUND_INTEREST table


EXPECTED BEHAVIOR
-----------------------
Partial payment should updated properly in COMPOUND_INTEREST table for PREFIX component

STEPS:
A Loan contract has been created with following steps
1. - OLDTRONL New Loan contract created for Amount Financed - xxxxx.00 with Book Date - 2021-05-06, Value Date - 2020-12-10 and Maturity Date - 2021-12-13 with bullet schedule for PREFIX, POSTFIX and PRINCIPAL on 2021-12-13
2 - ONLPMNT A Payment is made on Value Date - 2021-05-06 with Limit Date as 2021-12-13 (which is schedule date of loan) for component PREFIX where Amount Due -xxxx.10 and Amount Paid - xxxx.xx. hence balance to be updated in COMPOUND_INTEREST table on 2021-05-06 should be xxx.xx However it is updated as xxx.xx
3 - in OLDPMNT when the user looks for payment with above Value date and limit date then the front end showing appropriate Amount Due of yyyy.yy for component PREFIX

Changes

 The fix provided as reducing the settled amount after basis interest calculation for derived components

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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