Has anyone setup a loan type of invoice?
Has anyone successfully created a loan / mortgage like invoice in Receivables?
We don't own the Oracle Loans module as we only have a handfull of loans.
Ideally there would be equal monthly payments over the amortization, and the principal amount paid (amount posted to revenue code) would increase as the interest charged (amount posted to interest code) would decrease each month.
I was able to calculate the proper interest amounts based on an equally divided payment term, but that doesn't help the revenue amount for each payment period (it stayed the same).
I was able to calculate the proper revenue amounts using an unequal payment term distribution, but that doesn't help the interest amounts as they seem to be based on the overdue amount.