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

When changing the calculation/contract parameters, if there is no payment calendar, the user will recalculate the payments using the Calculation/ button.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 performed via a financial calculator and with the creation of a payment schedule. 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 the recalculation cannot be performed because a payment calendar exists

image-20240618-122941.png

  • If N, it recalculates the fields on the Calculation tab:

    • Annuity Excl. VAT

    • Insurance Excl. VAT

    • Service Excl. VAT

    • Payment excl. VAT

    • Payment incl. VAT

    • And the fields in the factbox Contract Profitability

    • recalculates the mileage rates (see separate chapter).

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 (Poplatek bez DPH)

    • 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/Number of Payments

  • 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 payments from the Contract Services

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

      • Service excl. VAT = Simple Service/Number of Payments

  • Payment Excl.VAT (4047210)

    • It counts:

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

  • Payment Inc.. 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 per VAT Posting Group Principal)+ 

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

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

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

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

        • +if Use Simple Fee=Y is 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.

Creation of a payment calendar (or recalculation) can be done by pressing the button:

Complete Calculation

It only 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.

When pressed, it performs checks:

  • 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

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

image-20241030-115135.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 make e.g. a change in ABS/REL parts – they can combine to model an irregular payment schedule or they 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 (Update) the contract will be 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 (Finish) the calculation will be transferred to the contract lines and the contract payment calendars will be generated – the so-called deployment of payments into the payment calendar (payments, insurance, Service, interest correction) including updating the fields in the contract factboxes.

After pressing the Update or Finish button, the system will check if the contract is not in the so-called automatic renewal mode (contract flag Contract Extension=Y). If it is, it displays a message and does not perform any recalculation – no recalculation of the payment calendar is allowed in this contract mode:

image-20240618-123229.png

If the contract is not in automatic extension mode (i.e. Contract extension=N), it will continue and recalculate the payments.

Then the system recalculates the contract mileage rates.

The system then marks the payment with Posted=Y in the payment calendar and the 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 line with Posted=Y, then the remaining lines will be calculated within the recalculation and then deployed to the contract payment calendar.

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