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Oracle Analytics Cloud and Server Idea Lab

The option to add period/monthly compound interest rate to interest calculation method

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A.A Rank 1 - Community Starter

Nov 29, 2023 3:26PM edited Nov 29, 2023 3:38PM in Oracle Analytics Cloud and Server Idea Lab

Currently we are only allowed to use Daily Compound Interest rate in the interest calculation method, in the lease module.

Using the daily compound interest rate will result in a variance in calculations, compared to our historical monthly interest rate.

As an organization we need the option of "Period Compound Interest" to avoid variance between our legacy and Oracle Lease Accounting.

In System Options under Amortization, we need the ability to change the Interest Calculation Method from "Daily Compound to Periodic Compound"

6 votes