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After creating the calculation/contract, the system calculates the values of annuities, insurance, etc. using only formulas (performance reasons).

When changing the calculation/contract parameters, if there is no payment calendar, the user will recalculate the payments using the button Calculation > Payment Calculation:

  • The Calculate Installment option is displayed when Calculate APR and Calculate IRR = No are at the same time. If the parameters are Y, the calculation must be done through the financial calculator with the creation of a payment calendar. Without a payment schedule, it is not possible to recalculate the APR or IRR.

When pressed, the system checks the contract flag Complete Calculation=N/A (hidden field):

  • If A, it displays a message that it cannot perform the recalculation because a payment calendar exists

    image-20240612-112150.png

  • If N, it will recalculate the fields on the Calculation tab:

    • Annuity Excl. VAT

    • Insurance Excl. VAT

    • Service Excl. VAT

    • Payment excl. VAT

    • Payment incl. VAT

    • And fields in the Contract Profitability factbox.

The calculations are as follows:

  • Annuity Excl. VAT (4047145))

    • Ak je Calculation Interest Rate % (p.a.)<>0:

      • Annuity Excl.VAT=PMT(Calculation Interest Rate %/number of periods in a year by periodicity;-Financed Amount; Calculation Residual Value; Part Payment Due Date)

    • Ak je Calculation Interest Rate % (p.a.)=0

      • Annuity Excl.VAT= Financed Amount (4047245)/No.of Payments

  • Fee Excl. VAT (Fee Excl.VAT)

    • Fee Excl.VAT=Simple Fee/Number of Payments

  • Insurance Excl.VAT (4047205))

    • If the financing includes insurance as part of the instalments:

      • The system will take over the sum of term premiums from insurance contracts

    • If it's on Simple Insurance<>0:

      • Insurance Excl.VAT= Simple Insurance/No.of Payements

  • Service Excl.VAT (4047200))

    • If the financing includes services in instalments (i.e. Financing with Services=Y):

      • The system takes the sum of the Value into the installments from the contract services

    • If <> is 0 on Simple Service (only for Financing with Services = N and Use Simple Service=Y):

      • Service excl. VAT = Simple Service/No. of Payements

  • Payment Excl. VAT (4047210))

    • It counts:

      • Payment Excl.VAT= Annuity Excl.VAT + Fee Excl. VAT + Insurance Excl.VAT + Service Excl.VAT

  • Payment Incl. VAT (4047215))

    • This is calculated by finding out the VAT for each item (VAT Business Posting Group and the corresponding VAT posting group) and then adjusting the sum:

      • Payment Incl. VAT = (Annuity Excl.VAT + VAT according to VAT Posting Group Principal)+ 

        • +if Use Simple Insurance = Y on the type of sale: Insurance Excl.VAT + VAT according to VAT Posting Gr.Simple Insur.)

        • +if Use Simple Insurance = N: Insurance Excl.VAT + VAT according to VAT Posting Gr.Principal)

        • +if Use Simple Service = Y on the type of sale: Service Excl.VAT + VAT according to VAT Posting Gr.Simple Service.)

        • +if Use Simple Service = N: Service Excl.VAT + VAT according to VAT Posting Gr.Principal)

        • +if Use Simple Fee = Y on the type of sale: Simple Fee Excl.VAT + VAT according to VAT Posting Gr.Simple Fee.)

        • +if Use Simple Fee = N: Fee Excl.VAT + VAT according to VAT Posting Gr.Principal)

      • Please note that the calculation may not be completely correct in cases where there are different VAT rates, e.g. for Principal and Interest, or if there are different VAT rates for individual insurance policies or services.

At the moment when the user has entered all the information about the contract and calculation parameters on the contract, he can perform the calculation of the financial calculation on the contract. If not, the system will perform this calculation when activating the contract, and it will also create a payment calendar.

The financial calculation is performed by pressing the following button:

Complete Calculation

It works until a payment is posted from the payment calendar. After pressing the button in the background, the system will create a regular payment schedule.

image-20240612-112352.png

When pressed, it performs checks:

  • If Status>=Active, it displays the message:

image-20241030-115135.png

  • If there is already a contract payment calendar that contains entered irregular payments (ABS/REL parts), this function cannot be used. The system will notify you in the form of a message:

image-20241030-115026.png

Calculator Lines

This method of calculation is general, i.e. it works even if the payment from the GAC has already been posted.

After pressing the button, the system opens the financial calculator of the contract, where the user can change, for example, ABS/REL parts – it is used to model an irregular payment schedule or it can be used, for example, for a temporary reduction of installments, distribution of installments, etc. ABS/REL parts work only for the financial part of the installment.

The user can only change the ABS and REL columns in the calculation, which mean a change in the absolute and relative part of the payment. By pressing Update The lines are recalculated after the relative and absolute parts have been changed, so the user can check how the change will affect the amount of installments.

By pressing Finish The calculation will be transferred to the contract lines and the contract payment calendars will be generated (installments, insurance, Service, interest correction).

The system then marks the payment with Posted=Y in the payment calendar and financial calculator when posting a payment.

If the user then performs a subsequent recalculation of the contract, the system in the financial calculator will be based on the last row with Posted = Y, then the other lines will be calculated within the recalculation and then deployed to the contract payment calendar.

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