A.1.23 Convert a Precomputed (PC) Lease into a Simple Interest (SI) Lease
When converting a precomputed Lease into a simple interest Lease, Oracle Financial Services Lending and Leasing assumes the following default values:
- Accrual Calculation Method - interest bearing (simple interest)
- Maturity Date - Computed from the term and next payment due date
- Monthly Payment Amount - Computed from the interest rate, new principal balance, accrual start date, and term.
- All balances other than the Note balance are carried over to simple interest Lease.
The resulting new simple interest Lease will have the same account number with details entered/computed above.
CAUTION: The converting a precomputed Lease into a simple interest Lease transaction can be performed only by closing the nonperforming condition.
Table A-42 To reschedule precomputed Lease to interest bearing Lease
| Transaction | Parameters |
|---|---|
| Reschedule Pre-Compute Lease to Interest Bearing Lease | Txn Date |
| Reschedule Payment Start Date | |
| Amount | |
| Rate | |
| Term |
Parent topic: Monetary Transactions