1. Loan Servicing User Guide
  2. Batch Transactions
  3. Advances
  4. Advance Maintenance Tab
  5. Modifying/Correcting Advance Transactions

17.2.2.1 Modifying/Correcting Advance Transactions

In some cases, an advance may be valid, but how it was posted was incorrect; for example, advance was posted to the wrong account, with the wrong date, or with incorrect spread data. The Advance Maintenance screen enables you to correct such errors.
To modify/correct an individual advance transaction
  1. On the Oracle Financial Services Lending and Leasing Application home screen, click the Servicing > Servicing > Batch Transaction > Advances > Advance Maintenance.
  2. In the View Options section, click Posted.
  3. In the Advances section, select the advance you want to modify and click Edit.
  4. In the Action section, click Modify.
  5. In the Details section, update the fields with information about the advance you want to modify.

    Table 17-7 Details section

    Field Do this
    Account #: Title Select account number.
    Loan Currency Select the Loan currency.
    Amount Enter advance amount.
    Txn Dt Enter advance effective date.
    Reason Select the reason for error.
  6. Click Save And Return.
    The system modifies the original advance and posts the new advance.

Parent topic: Advance Maintenance Tab