4.18.1 Reversal of Accruals during Contract Reversal

Your bank might encounter a situation wherein you might have to change the non-financial details (like customer account, customer, and so on) of a contract after it is authorized. You cannot amend these non-financial details after authorization. Under such circumstances, you can to reverse a contract and then make the necessary modifications. When you reverse a contract, the event-wise accounting entries of the original contract are reversed.

During reversal of foreign currency contracts, for the events ACCR (Accrual) and STCH (Status Change), Oracle Lending takes the current exchange rates maintained in the Exchange Rate table for the accrual entries with the amount tag _ACCR. Further, the system re-calculates the local currency equivalent of the amount and pass the entries to the respective GLs.