CL-SCH004 (Schedule date generated for $1 component is earlier than Value date)

Function id: CLDACCNT

Events: INIT

Schedule start date less than the value date of loan

Root Cause: The above sited error comes when the schedule start date of any component of loan
account open falls less than the opening date or value date of the loan account opened by the
customer.

Possible Scenario: Customer may be trying to open a loan account by copying an existing loan
account which was opened on earlier some date. While copying the loan the schedules of that
loan will get copied to the new loan being opened but the value date or opening date of present
loan will be today’s date. In such a scenario the schedule start date of component will be less
than the value date of the loan being opened and the above error will appear.
Solution: By following the below steps while opening the loan account this error can be avoided.

1. Query an old loan account. This account value date will be old date. Hence the schedule
start date will also be old date.
1. Copy this account for creating the new account. In this scenario the value date will be
same as in the old loan account. In the below scenario the system date is 05-Jan-2017 but
value date is 06-Oct-2016. Customer will be changing the value date to system date i.e.
05-Jan-2017 and then trying to save the account which brings the cited error.
2. On click of save error comes in

3. For avoiding the same after changing the value date product default has to be clicked
which will inherit the product features and also build the schedule based on the new value
date as below.
4. In some scenario customer may not be interested in clicking the product default because
he will be interested in just copying the features of existing account only. In such a
scenario components tab has to be visited and ‘edit schedule’ button has to be clicked and
start date of each schedule has to be changed based on value date of loan and then
‘explode schedule’ has to be clicked so that new schedule will be built based on value
date of new loan as below