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Proper Contract Termination in Loans App

Proper Contract Termination in Loans App

Owned by Petra Jankovicova
Nov 11, 2024
2 min read

In Loans and Financial Leasing App is possible to change Active Contract into status Closing via automatic process called Proper Contract Termination. For this purpose is available function in Role Centrum/Processing/Proper Contract Termination.

 

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Triggering this function searches all active contracts, where Expected Termination Date <= Work date reduced by the number of days set in field No. of Days Before Contract Termination (OneCore Setup/Closing).

Additionally, there is possible to enable (disabled by default) controls in OneCore Setup/Proper Termination:

  • Check Payment Posting - if this control is enabled, the system reviews if all payments in particular contract (residual value line is skipped) are posted. Otherwise, Error Detail in Log (see below) appears: “Non-posted lines on contract (Payment).”

  • Check Residual Value Posting (not applicable for Loans app) - if this control is enabled, the system reviews if exists residual value in particular financial leasing contract. If yes, it is checked whether its posted. If no, Error Detail in Log appears: “Non-posted lines on contract (Residual Value).”

  • Check Individual Invoice Posting - if this control is enabled, the system reviews if exists an individual invoice/credit note withing the contract. If yes, it is checked whether its posted. If no, Error Detail in Log appears: “There is at least one unposted individual invoice.”

  • Check Payment Balance - if this control is enabled, the system reviews if all posted invoices (payments, individual invoices/credit notes, residual values) are paid (Payment Balance = 0). If no, Error Detail in Log appears: “Payment balance of posted documents is not zero.”

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Result of these controls is saved in Proper Contract Termination Log. Log can be found in Role Centrum/Processing/Proper Contract Termination, where is stored list of all contracts which has been checked by this process ordered by Entry No. In case status was successfully changed to Closing, result is Success and Error Detail is empty. On the other hand, if some control prevented the status change, user can see the reason in Error Detail. Direct link to Financing Card is available via Contract no.

 

From Closing state can be contract manually Archived (Financing Card/Change Status/Archive).