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4.2.7.5
Associating Charges
Whenever a lease undergoes a status change, you can apply charge on the lease. You need
to associate charge components at a status level. To do this, click ‘Charges’ in the ‘Account
Status’ tab of the screen – the following screen is displayed:
The charge type of components defined for the product (in the ‘Components’ tab of the
screen) are displayed in the option list. Select the component you wish to associate with the
lease. The charge is applied when the lease moves to the status and is debited to the
customer account.
4.2.7.6
Processing at Account Level
At the account level, when there is a change in the status, Oracle FLEXCUBE will first check
if accrual is required for the components. When the accrual frequency for a component is not
‘Daily’, Oracle FLEXCUBE will validate if the installment status or the account status changes
before accrual execution date. If it changes, Oracle FLEXCUBE will trigger catchup accrual
for the component till the installment status and the account status change date. Subsequent
to this, Oracle FLEXCUBE will process the installment status change and account status
change.
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An installment status change will not change the next execution date of
unprocessed ACCR events
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A status change is applicable for both manual and automatic account status
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If you delete an account level status change, it will delete the catch up accrual
accounting entries also
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If you reverse an account level status change, it will reverse the catch up accrual
accounting entries as well
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