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    OLFM Training6

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    Srinibas
    This document discusses contract changes in OLFM, specifically rebooking and release (transfer and assumption). It provides details on when a rebook is required and how to initiate the rebook process. A rebook creates a copy of the contract, allows for changes to be made, and then copies the changes to the original contract. The document also covers the release process, which terminates the original contract and creates a new one with a new customer or financial product. Exercises are provided to practice rebooking, observing the transactions, and querying rebooked contracts.

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    OLFM Training6

    Uploaded by

    Srinibas
    159 views15 pages
    This document discusses contract changes in OLFM, specifically rebooking and release (transfer and assumption). It provides details on when a rebook is required and how to initiate the rebook process. A rebook creates a copy of the contract, allows for changes to be made, and then copies the changes to the original contract. The document also covers the release process, which terminates the original contract and creates a new one with a new customer or financial product. Exercises are provided to practice rebooking, observing the transactions, and querying rebooked contracts.

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    This document discusses contract changes in OLFM, specifically rebooking and release (transfer and assumption). It provides details on when a rebook is required and how to initiate the rebook process. A rebook creates a copy of the contract, allows for changes to be made, and then copies the changes to the original contract. The document also covers the release process, which terminates the original contract and creates a new one with a new customer or financial product. Exercises are provided to practice rebooking, observing the transactions, and querying rebooked contracts.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    159 views15 pages

    OLFM Training6

    Uploaded by

    Srinibas
    This document discusses contract changes in OLFM, specifically rebooking and release (transfer and assumption). It provides details on when a rebook is required and how to initiate the rebook process. A rebook creates a copy of the contract, allows for changes to be made, and then copies the changes to the original contract. The document also covers the release process, which terminates the original contract and creates a new one with a new customer or financial product. Exercises are provided to practice rebooking, observing the transactions, and querying rebooked contracts.

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    OLFM Training

    DAY 6
    Contract Changes

    Rebook

    Release (Transfer and Assumption)


    Rebook

    Some Contract Changes can be done through Lease Centre without doing a
    Rebook

    Any changes which impact the following requires a Rebook:

    Cash Flow Dates


    Rents
    Asset Values
    Depreciation Values
    Book Classification
    Rebook

    Do the Rebook if you need to Change:

    Payment Amount
    Payment Flow Dates
    Asset Cost
    Depreciation parameter changes
    Contract Extension
    Rebook

    Initiate Rebook of a Booked Contract by Clicking Revision Action.

    Provide the following information:

    Revision type -> Rebook Contract


    Reason -> Choose any valid Reason from LOV
    Revision Date -> Transaction Date (should be between contract start date and
    contract end date)
    Rebook
    Rebook

    Rebook Process creates a Copy of the Contract with Naming convention


    <Contract Number>-RB<Seq Number>.

    Make the changes in this Copy contract

    Take the contract through Validation, Stream Generation, Approval and


    Activation Process.

    The Rebook Contract will be ABANDONED and all the changes will be
    copied to the original contract.
    Rebook

    Rebook Transaction and Accounting

    Rebook Transaction created in OKL_TRX_CONTRACTS_ALL

    Rebook Accounting Reverses the Original Booking Accounting Entries

    A new set of Accounting entries are created

    Adjustment transactions created for Accrual/Billing.

    At the end of the Rebook, the following transactions are available


    BKG (Original Booking)
    TRBK (Rebook)
    BKG (New Booking)
    Release (Transfer & Assumption)

    Release (T&A) is a process of changing


    Financial Product
    Customer

    Release Process Terminates Original Contract and Creates


    a new Contract.
    Release (Transfer & Assumption)

    Release Process is started from Lease Centre Agent Responsibility.

    In the Release request, the following parameters are given:


    Release Date: The Day must be same as Contract Start Day
    Customer Account: New Customer Account
    New Contract Number: Any user Defined Number

    A Request ID is generated which is then used in revising the contract from HTML
    Pages
    Release Process

    Before Doing the Release

    Accrual must have been completed till Release Date


    Billing must have been completed till Release Date

    Release process invokes a workflow OKLCSTRQ which can be customized


    for Approval Process.
    Lease Centre Overview

    Provides a 360 Degree view for customer/contract

    Search can be done on the basis of


    Contract Number
    Customer Account
    Asset Number
    Invoice Number
    Insurance Policy
    And Many other parameters
    Lease Centre Overview

    Used for Viewing

    Contract Overview
    Contract Structure
    Parties
    Account
    Transactions
    Stream Elements
    Lease Centre Overview

    Used for Bulk Asset Update


    Creating Insurance Quote and Policy
    Termination Quote
    Transfer and Assumption Request
    Restructure Quote
    Unscheduled Pay-downs
    Credit Memo
    Tasks
    Notes
    Exercises

    Create a new contract by copying an existing contract.


    Rebook the contract to extend term by 3 months.
    Observe the Rebook transactions created in the table
    OKL_TRX_CONTRACTS_ALL
    Create another contract by copying an existing contract. Run accrual
    and Billing till system date.
    Create T&A Request for this contract and change the customer.
    Observe the T&A transaction created in the table
    OKL_TRX_CONTRACTS_ALL
    Write a query to find out all the contracts which have been rebooked
    and number of times rebooked.

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