Contract activation in OC Loans App
- Molitorisová Marianna
- Petra Jankovicova
Before creating Active Contract you need to create Calculation via Role Centrum Loans>Actions>New>Create New Loan. For more information use link How to create calculation.
Then the process of transferring status from Calculation to Active Contract is simple. At first click on button Change Status, and then you will see available contract status which is allowed to switch.
It's possible to change the status step by step by following states:
Send Offer
Send to Approval
Approve Contract
Sign Contract
Activate Contract
Go to How to work with approval process to get more information. Basic contract statuses are displayed on Dashboard. Clicking on particular tile shows filtered contracts with this status, e.g. under tile Active can be found all active contracts.
Payment Calendar of Active Contract
Once you activate your contracts, you can post payments in Payments Calendar. Payments Calendar is available on Financing Card under Home tab. It includes columns:
Payment Period - Date From and Date To
Posting Date - calculated based on Part Payment Due Date
Due Date - calculated from Posting Date based on Payment Terms
Document No. is created after posting particular line
Posted - checkbox showing which payment was posted
Canceled - checkbox showing which payment was cancelled
Blocked - checkbox showing which payment was blocked from posting
Payment Amount Incl. Tax
Payment Amount Excl. Tax
Payment Balance - amount to be paid by customer
Principal Amount
Interest Amount
Insurance Amount
Service Amount
Rounding Difference Amount
Principal Balance (Beggining)
Principal Remaining
Ways to post installments:
Manually - for separately posting - use menu Home - Payment Calendar and click to the button Post. Invoice is created and Payment Balance increases. You can also cancel posted invoice.
Mass posting of installments - To post installments filtered by selected parameters - use Role Centrum Dashboard>Action> Processing>Financing Payment Posting>Post.
On Financing Card are displayed information about invoices:
Posted Invoice Count: represents the number of posted invoices.
Cancelled Invoice Count: represents the number of cancelled invoices.
Invoice Count: represents the number of created invoices, but not yet posted invoices
Note:
In case there are all payments invoiced in payment calendar and user clicks on button Complete Calculation, payment calendar cannot be recalculated. Instead, there is displayed message: “There must exist at least one line where Rel<>0.” In case of interest model: “Number of payments not invoiced is lower than 1.”
Follow up:
How to create calculation in general