Wrong Loan Repayment - AZ Loan

Dear value supporters and visitors,


As the bank use AZ module to do the loan contract, and FT to do the manual repayment, does anybody know if the user do wrong loan repayment on both principal or interest, can the transaction be reveresed?

If it's not possible to reverse, do you have any idea to solve the problem?

Note: Temenos T24 R7.003, RHEL 4 AS 64bit.


Thanks and appreciate your valuable ideas.

Hi Charveasna,

AZ loan is pretty easy since the loans are account based.
Yes the FT transaction can be reversed but if you have already run CO for the day,you cannot use the reversal funtion, you will have to pass a reversal entry. As long as you use the same value date as the original entry, the system will reverse both the principal & interest..

I hope this helps,
Esther.

Hi Waesta,

Thanks you very much for your response, but if I do the repayment through FT both principal and interest, i can do the reverse and the record status should be RNAU. Then i go to authorise the record, the system say: Reversal not allow!

This is might be the setup problem, so do you have any idea on the configuration like parameter setup? I so could you please send me the document, and sample configuration to may email: This email address is being protected from spambots. You need JavaScript enabled to view it..

Thanks you in advance.

Hi Veasna,
As i said before, you are not able to use the reversal function on an FT transaction after running cob and this is core.In such a case, you could advise the bank to pass a reversal journal with an opposite entry using the same value date as the original entry.
Unless someone else can give you better advise.

Regards,
Esther

Hi Weasta99,

I understand what you mean but for our current system setup, once i do the loan principal repayment through FT, and at the same date, i do reverse but the system not allow to reverse the transaction (Reversal within day not allowed too).

As you mention, reverse the loan principal repayment within day is allowed that's why i want to know your setup configuration. Could you tell me how to do that?


Thanks you very much for your kind support,

Hi,
I see what you mean. I hope you are following the following procedure;
1.Pick the particular record you want to reverse
2.Select reversal function, commit the record & authorise it
3.In the end you will see the same entry repeated on the account statement with a negative sign to signify reversal.

This is a core functionality and if its not working, someone else can take it up from here and help you or you should contact Help Desk.

Best Luck,
Waesta