Re: Data Modeling question for finanicial system

Are those tables being used for any historical referencing? They may be needed for liability reasons. I don't use Oracle Financials, but my company's application has to keep track of historical data (rate changes, fees, fees-on-fees,etc.) primarily for internal and external auditing.

-Dean

On 23 Apr 1999 09:49:28 -0500, "Rob K" <rfk_at_credaccept.com> wrote:

>
>Hello, my name is Rob I am a systems
>developer at a finanicial company. I started
>working here 2 years ago on a system that
>was designed by an outside consulting
>company. The system is basically a loan
>servicing system on a Oracle platform. It
>consists of credits and debits and interest
>calculations. My question is about the
>physical design. They created a master
>transaction table that basically has the
>debits and credits for each individual
>account. They also created a transaction
>detail table that has a foreign key to the
>master transaction table; this table
>contains how the payments are distributed.
>Example: if an account has a $50 late fee,
>$20 audit fee and a payment comes in for
>$100 the table will show that $50 of the
>payment went towards the late fee, $20 of
>the payment went towards the audit fee then
>remaining $30 went towards principle. As you
>can imagine there is a lot of overhead in
>maintaining this table especially when
>corrections to fees and payments comes in
>and we get a lot of them. It seems
>unnecessary for this detail table. All the
>data that is stored in it can be derived
>from the business rules. Is this table
>common practice in financial systems to
>track how payments are distributed? It seems
>to me you would only be concerned about the
>individual balance buckets i.e. Principle
>balance, fee balance and interest balance. I
>realize that the complexity of the system
>would shift over to the reporting side. It
>would seem safer to derive the data from the
>reports then to store it in this huge table.
>We have gotten burned several times do to
>corrupted data in the detail table.
>
>
>--Posted from EarthWeb Discussions. http://discussions.earthweb.com
>
Received on Sat Apr 24 1999 - 17:06:38 CDT