EDM: Payment Date Able To Be Updated After Accounting Event Is Processed (Doc ID 2761380.1)

Last updated on MARCH 19, 2021

Applies to:

Goal

The Payment Date is able to be updated after an accounting event tied to that activity is processed causing duplicate accounting entries. Below is the scenario:

 1. Create a new Accounting Template

2. Define Instrument (Create a new one)

Accounting Template tab

Define Instrument Template

3. Create a Deal

Settlement Instructions

Click on Interest and payment dates

Now Update Payment Dates to month end

Click on Cashflows

Interest Payment row’s Payment Date is 2/28/21

4. One accounting event for Periodic Payment on 2/28

5. Run Accounting

6. Accounting Generated for 2/28

7.Periodic Payment accounting event for 2/28 is Processed

8.Interest Payment row is NOT LOCKED DOWN (why)

9.Update Payment Date on already processed Interest Payment row to 2/26

10.Run Accounting

11.Accounting generates for the interest payment on 2/26

Why can a user update a payment date when it is already processed? Allowing a user to update creates duplicate accounting.
 

Solution

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