Issues Identified During Post Partial Prepayment (Doc ID 2886237.1)

Last updated on AUGUST 08, 2022

Applies to:

Symptoms

On : 14.5.0.0.0 version, Implementation Support

ACTUAL BEHAVIOR
---------------
Below list of issues identified post partial prepayment

Issue 1 > User has performed the partial prepayment towards the loan contract for an amount of 10,000 on system date 06 Jun post EOD, system should accrue the interest for 8,387.98 whereas system accrued for 18,387.98
Issue 2 > System has re-amortized the schedules for an amount of 8,387.98 post prepayment for an amount of 10,000 on 07 Jun. However, after EOD, system again displayed the amortization for an amount of 18,387.98


EXPECTED BEHAVIOR
-----------------------

Issue 1 > System should post the accrual entries for the correct outstanding amount
Issue 2 > System should calculate and display the amortization schedule for remaining outstanding amount

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

Step 1 : Query the amortized contract or create a contract in back value date
Step 2 : Perform the partial prepayment for outstanding principal amount
Step 3 : Post EOD validate whether ACCR triggered for remaining amount and schedule updated as per the payment


BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, users cannot correct schedule entries.

Cause

My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.