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Lease Incorrect Running Balance (Doc ID 3010554.1)

Last updated on MARCH 18, 2024

Applies to:

Oracle Financial Services Lending and Leasing - Version 14.8.0.0.0 and later
Information in this document applies to any platform.

Symptoms

ACTUAL BEHAVIOR
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Leasing: Incorrect Running Balance

User constantly running into issues, where system has been displaying an incorrect running balance on the transactions screen, which is different from the number on the account balances screen.
Issue has been observed, when an account has been marked as charged-off and reversed at a later point.

This is causing issues in our servicing and is triggering customer complaints as well.


EXPECTED BEHAVIOR
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System should show correct running balance on transaction screen comparing to what is shown in the account balance screen for the account marked as charged-off and reversed later.

STEPS
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The issue can be reproduced at will with the following steps:
1. Open an Account, run 5 billing, Made payment for 3 dues.
2. Verify Balances and Running Balance in Transaction History.
3. Post Terminate Transaction on the Account, Balance moved to Terminate Balance. Running Bal became 0 in transaction History.
4. Post Charged Off Transaction on the Account, Balance moved to Deficiency Balance. Running Bal remained 0 in transaction history.
5. After a few days reversed Charged Off Transaction - Balance moved to Terminate balance, running balance remained 0.
6. Reverse Terminate transaction, Balance moved to Current balance with Previous outstanding bal. Running balance matched Outstanding Bal.
7. Post again Terminate and Charged off, Reversed Charged Off and Reversed Terminate. Balances being brought back as before these transactions.

BUSINESS IMPACT
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The issue has the following business impact:
Due to this issue, users cannot correct balances populated in the transaction screen for the account marked as charged-off and reversed later.

Cause

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In this Document
Symptoms
Cause
Solution


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