4.22 Viewing the Accrual Fee Details for a Loan

While processing contracts in Oracle Lending, you can choose to accrue fee components at the time of booking the contract. The upfront fee involved in a contract is accrued by the system over the tenor of the contract.

During contract processing, you need to enter the details of the fee if you are collecting a fee from the customer. You can specify the fee details in the Accrual Fee Input screen.

Specify the User ID and Password, and login to Homepage.

1. On the homepage, type LFDACFIN and click next arrow.
   The Amortization Fee Details screen is displayed.

   Note:

   The fields which are marked in asterisk red are mandatory fields.

   Figure 4-28 Amortization Fee Details

   
   

   
   Description of "Figure 4-28 Amortization Fee Details"

   
   
2. From the Amortization Fee Details screen, click on Accrual Fee tab.
   The Accrual Fee screen is displayed.

   Figure 4-29 Accrual Fee Details

   
   

   

   
   

   Note:

   During amortization fee accrual and calculation, you can select Fee Period Basis to compute number of days for the fee schedule based on the option chosen during contract life cycle. For more information on Fee Period Basis, refer to Charges and Fees User Manual.
3. You can view below details in this screen. For information on fields, refer to the field description table.

   Table 4-37 Accrual Fee

   Fields	Description
   Component	The fee components associated with the product under which the contract is being processed.
   Effective Date	The date on which the accounting entries for the fee amount specified at the product level is to be posted to the customer account.
   Accrual Method	The method used to accrue the fee amount. It can be either by Straightline method or Yield Basis method.
   Amount	The amount that is to be collected as fee from your customer.
   Currency	This is the currency of the fee amount or refund amount.

   Note:

   For more information on Upfront Fee Accrual, refer to the Processing Upfront Fee Accruals in this User Manual.