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Financing Model

Financing Model

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Last updated: Dec 11, 2024Version comment
15 min read

The financing model is used for specific settings of calculation parameters, number series formats and other parameters that apply to a certain group of contracts. Unlike OneCore Settings, which apply to all contracts, and Contract with Service Settings, which apply to all service contracts, there can be an unlimited number of contract models, and they can be used to create different settings for individual financing products (then contract groups).

The code list is available via full-text search: Overview of financing contract models.

A new record can be entered via the New.

From the overview, the user opens the card for the selected financing model via the Edit/View button or by double-clicking. Subsequently, the system creates a Financing Model tab that contains the following tabs:

  • General

  • Rounding the Contract Calendar

  • Numbering

  • Calculator (Calculations)

  • Contract Settings (LS) Deployment

 

General Tab

Field:

  • Code

    • Required field

    • Contract model designation that the user will select on the contract template

  • Active

    • An enabled parameter means that the model is active and the user can select it for a contract template

  • Derive From Model

    • This field allows you to copy the settings of the current contract model from another existing contract model. By clicking on this field, the user will see a list of existing models. By selecting a model, the system copies all settings from that model to the current model. This field will then retain information about the model from which the system copied the parameters

  • 1.Payment Tolerance Days

    • The field is filled with the time value in

      • D – day

      • DT

      • T - week

      • M - month

      • K - Quarter

      • R - year

      • B, stands for the current time unit based on the date, can be entered as a prefix to the time unit, e.g. BM as the current month. D, WD, W, M, Q, Y (e.g. 5D)

  • If it is added, when penalizing the first regular installment, the system will start penalizing this installment after this number of days

  • Description

    • Detailed description of the financing contract model

  • Recalc Last Payment Principal

    • This check mark affects the deployment of payments into the financing contract from the financial calculator (calculator lines). If the check box is active, the system will correct the principal and interest amounts in the last regular payment so that the total sum of principal amounts in all payments corresponds to the Input Price + Input Price Change in the Financing Contract header

    • Recommended Setup Yes

  • Financing Type

    • This setting determines the type of financing that is defined by the model. The following options are available:

      • Financial leasing

      • Operative leasing

      • Credit/Loan

      • Instalment Sale

      • Fleet Management

  • Currency Code

    • The user selects the currency for which they are creating the model.

    • If this is a model for domestic currency, leave it blank.

  • Status for Contract No.Assignment

    • User selects detailed contract status to change Calculation No. to Contract No. The number change occurs when the detailed status is manually changed to the status in this field.

    • The recommended setting is an empty field. It is recommended to create a contract by clicking on the Create contract from calculation button – in this case, the source calculation will be preserved in the system and an unlimited number of contracts can be created from it.

  • Down Payment Amount Allowed

    • If the parameter is ON, the user can enter the first increased payment into the calculation, or on the Financing Product, the Calculation Parameters subform

  • Selling Fee Amount Allowed

    • If the parameter is ON, the user can enter the selling fee into the calculation, or on the Financing Product, the Calculation Parameters subform

  • Residual Value Amount Allowed

    • If the parameter is ON, the user can enter the residual value into the calculation on the Financing Product, Calculation Parameters subform

  • Always Calendar Month

    • If the value of the field is YES, then

      • The first period of the payment calendar is from the Calculation Start Date to the last day of the month

    • B.C.

      • Calculation start date = 18.5.2023

      • First period = 18.5.2023 to 31.5.2023

      • The latest period is from the first day of the month of the Expected Termination Date to the Expected Termination Date

    • B.C.

      • Expected termination date = 17.5.2026

      • Last period = 5/1/2026 to 5/17/2026

      • The intermediate periods are always from the first day of the month to the last day of the month

    • Pr

      • Second period = 1.6.2023 to 30.6.2023 (the next period is the same)

      • If the value of the field is NO, then

    • The first period of the payment calendar is from the Calculation Start Date + month, and the following periods always add a month

    • B.C.

      • First period = 18.5.2023 to 17.6.2023

      • Second period = 18.6.2023 to 17.7.2022

      • Last period = 18.4.2023 to 17.5.2023

  • Always Create Down Payment Line

    • With this check box, the user can force the creation of a down payment line (the so-called zero payment) for a given contract model every time, even if the down payment has a zero value.

    • The recommended setting is No

  • Create Line with residual Value/Sales Price

    • The default value of the field is NO, which means that the system will never create a row with a residual value

    • If the user changes the value to YES, then the system will create a line with the residual value, but only if the residual value is non-zero

  • Calculation Starting Date eis Handover Date

    • The default value of the field is NO, which means that the system inserts the first day of the following month in the Calculation Start Date field, which is specified in the Expected Handover Date (in the calculation) or Handover Date (when the contract is activated)

    • If the user changes the value to YES, then the system inserts the value of the Expected Handover Date (in calculation) or Handover Date (when activating the contract) field into the Calculation Start Date field

  • Aliquote Payment at Beginning Only

    • In combination with other parameters, it specifies that the aliquot payment should arise only at the beginning of the financing contract (used for contracts with services – Operative Leasing and Fleet Management)

    • Combination of parameters:

      • Always Calendar Month = Yes and

      • Calculation start is Handover Date = No (turns on the editability of the Aliquot field is at the beginning)

      • Base for Calculation Start Date=EXPHOD (Estimated Handover Date)

      • Calc. for calculation start date=BM+1D

  • Automatic Contract Extension

    • It is used in contracts with services. When invoicing installments, the system detects whether the item has been returned (Item Return Date on Item Not Empty). If the item has not been returned and Auto-Renewal = Yessystem:

      • Switches the contract to the so-called automatic renewal (contract flag Contract Extension = Yes)

      • On the first renewal, copying the last regular payment will create two additional installments

      • On a subsequent extension, it creates a single installment.

      • Etc. For a detailed description, see PD OL Contract.

    • Editable only if the Aliquot is only at the beginning = Yes, otherwise no.

  • Allow Partial Payment Credit

  • IFRS Payment Posting

    • Yes/no checkbox (checked/unchecked)

    • Only preparation for future functionalities, Currently unused

  • Don ́t check REFI code Fin.Period

    • When changing the financing period, the system normally checks whether the REFI code rates comply with the new financing period or are valid.

    • If the system does not perform this check when changing the contract duration by the wizard 4026635 (i.e. the "old" recalculation wizard or 4026638 the "new" recalc.wizard), the system switches this flag to N.

 

Contract Payment Calendar Roundings Tab

Field:

  • Calculation Rounding Code

    • In this field, the user selects the rounding code from the Rounding methods code list, according to which the system will round amounts in the financial calculator

  • Part Payment Rounding Code

    • In this field, the user selects the rounding code from the Rounding methods code list, according to which the system will round:

      • Without a contract payment calendar (values are calculated by formulas):

        • Annuity Excl. VAT (4047145) field on contract header

      • A contract payment calendar is created:

        • Amounts in the Principal and Interest payment schedules. The Annuity Excl.VAT field is the sum of them, so it is rounded in the same way. From there, the rounded value is transferred to the Annuity Excl.VAT field in the contract header.

  • Insurance Rounding Code

    • This rounding has no effect Rounding of standard insurance policies, which are rounded according to the insurance settings in all cases, whether there is a payment schedule or not.

    • In this field, the user selects the rounding code from the Rounding Methods code list, according to which the system will round only for the so-called simple insurance (Simple Insurance):

      • without a contract payment calendar (values are calculated by formulas):

        • Insurance Excl.VAT field in the contract header if the value is calculated by formula (without creating a contract payment calendar)

      •  A contract payment calendar is created:

        • the amount of Insurance (19) in the contract payment schedule. From there, the rounded value is transferred to the Insurance Excl.VAT field in the contract header.

  • Service Rounding Code - only for contract with services

    • In this field, the user selects the rounding code from the Rounding methods code list, according to which the system will round:

      • Without a contract payment calendar (values are calculated by formula):

        • Field Service Excl.VAT (4047200) – Applies to standard services as well as simple service.

    • There is a contract payment calendar:

      • Standard Services

        • If service payment calendars are created, the system rounds the amounts in Amount (55), Amount (LCY) (60), Cost Amount (65) and Cost Amount (LCY) (70) according to this field. The Service (22) field in the contract payment calendar is the sum of Amount (55) from the service payment calendars, then it is filled into the Service Excl.VAT field (4047200) in the contract header.

      • Simple Service

        • In the contract payment calendar, it is filled into Service (22), rounding according to this field. It is then taken to the Service Excl.VAT field (4047200) in the contract header.

  • Total Rounding Code

    • In this field, the user selects the rounding code from the Rounding methods code list, according to which the system will round the total amount of the payment incl. VAT:

      • Without a contract payment calendar (values are calculated by formulas):

        • Payment Incl. VAT (4047215) field on contract header

      • There is a contract payment calendar:

        • The Amount (34) field in the contract payment calendar. Then the already rounded value is transferred to the Payment Incl. VAT field in the contract header

Note: the Payment Excl.VAT (4047210 field in the contract header or the Amount Excl.VAT field in the contract payment calendar are not rounded, because they are only the sum of the values from the other fields. Amount Excl.VAT in the contract payment calendar is not a physical field, it is only on the overview.

More about rounding here Finance Setup - OneCore Docs - Seyfor IaO:

Invoice Rounding Setup

Understanding VAT Rounding in Documents

Insurance Rounding Setup

Currency Rounding

Rounding the Contract Payment Calendar

Sales Invoice Rounding

Purchase Invoice Setup

Cash Register Rounding

OC Rounding Quick Calculator

Numbering tab

Field:

  • Calculation Nos.

    • In this field, the user selects the number series from the list that will be used to assign the number of the new calculation

  • Multi Calculation Nos. - only for contract with services

    • In this field, the user selects from the list the number series that will be used to assign the number of the new contract matrix

  • Contract Nos.

    • In this field, the user selects the number series from the list that will be used to assign the contract number

  • Indiv.Invoice No.Series

    • In this field, the user selects a number series from the list that will be used to assign a number of individual invoices

  • Ref. A series of posts. indiv. Invoices (Indiv. Inv. Posting No. Series)

    • In this field, the user selects a number series from a list that will be used to assign a number of posted individual invoices

  • Invoice Nos. price (Selling Price Invoice Nos.)

    • In this field, the user selects the number series from the list that will be used to assign the invoice number to the sales price

  • Variable Symbol Nos.

    • The field is editable if the value of the field is Variable Symbol Type = Number Series

    • In this field, the user selects the number series from the list that will be used for assigning the variable symbol number

  • Part Payment Document

    • This field specifies the document number format that the system will use to number all documents that arise when a payment is posted from the financing contract payment calendar. The following setting options are available:

      • Contract/Payment

        • The document number will have the form "Financing Contract No." + slash + Sequential Payment No.

      • No. Series

        • The system assigns the document number automatically from the number series defined in the Payment Document Nos. field

      • Pref+Contract+Payment

        • The document number will have the form Prefix + Financing Contract No. + Payment Sequence Number. The user specifies the prefix in the Payment Document Numbers field (with this setting option, the system automatically recognizes that the number series code is not defined in the Payment Document Numbers field, but that it is a prefix).

      • Special

  • Part Payment Document Nos.

    • If the value of the Payment Document = Number Series field is

      • In this field, the user selects from the list the number series that will be used to assign the document number to the installment

    • If the value of the Payment Document field = Pref+Contract+Payment, then

      • In this field, the user defines a prefix that enters the payment document number

  • Interest Correction Document

    • This field specifies the document number format that the system will use for the document number that is created when the advance payment calendar line of the financing contract is posted. The following setting options are available:

      • No. Series

        • The system automatically assigns the document number from the number series defined in the Interest Correction Document Nos.

      • Pref+Contract+Payment

        • The document number will have the form Prefix + Financing Contract No. + Payment Sequence Number. The user specifies the prefix in the Interest Correction Document Numbers field (with this setting option, the system automatically recognizes that the number series code is not defined in the Interest Correction Document Nos. field, but that it is a prefix)

  • Interest Correction Document No. Series

    • If the value of the Interest Correction Document field is = Number Series, then

      • In this field, the user selects from the list the number series that will be used to assign the document number for interest corrections

    • If the value of the Interest Correction Document field = Pref+Contract+Payment, then

      • In this field, the user defines a prefix that enters the interest correction document number

  • Insurance Document

    • This field specifies the document number format that the system will use for the document number that is created when you post a line in the insurance payment calendar of a financing contract. The following setting options are available:

      • No. Series

        • The system assigns the document number automatically from the number series defined in the Insurance Document Nos. Series field

      • Pref+Poj. Contract+Installment

        • The document number will have the form Prefix + Insurance Contract No. + Payment Sequence No. The user specifies the prefix in the Insurance Document Numbers field (with this setting option, the system automatically recognizes that the number series code is not defined in the Insurance Document Numbers Series, but that it is a prefix)

  • Insurance Document Nos.

    • If the value of the Insurance Document = Number Series field is

      • In this field, the user selects the number series from the list that will be used to assign the document number to the insurance

    • If the value of the Insurance Document field = Pref+Contract+Payment, then

      • In this field, the user defines the prefix that enters the document number

  • Calculation Input Post.Nose

    • In this field, the user selects a number series from the list that will be used to assign the document number when posting the calculation input. The calculation input is charged in the form of an internal document.

  • Contract Accrual Line Post Nos. (Contr.Accrual Line Post Nos.)

    • In this field, the user selects from the list the number series that will be used for assigning the document number when posting the lines of the Contract Accrual Calendar. The Contract Accrual Calendar is posted in the form of an internal document.

  • Nos. Series for Tax Documents for Delivery of Goods

    • A numeric series for numbering tax documents (invoices and credit memos) upon delivery of goods.

    • Relation to the No. Series Code List (t. 308 No. Series)

  • Indiv.Invoice VS Format

    • The user selects from the following options:

      • Contract No.

      • Invoice No.

    • Subsequently, the system will generate from this number Variable Symbol

  • Type variab. Variable Symbol Type

    • The user selects from the following options

      • Document No.

      • Customer No.

      • Pref.+Contract No.+Part Payment No. (Pref.+Contract No.+Part Payment No.) – not possible to select will be removed

      • No.Series

      • Contract No.

    • Set To Contract No.

  • Variable Symbol Prefix

    • The user enters the prefix for the variable symbol, then the system inserts the prefix into the variable symbol.

 

Calculations tab

On this tab, the user specifies the settings by which the system calculates the calculation and generates the contract lines (payment calendars) and then defines the calculation formulas of the calculation dates on the financing contract.

Field:

  • Contract Calculation

    • This setting determines whether the system calculates the calculation automatically or the user must run it manually. The option must always be set automatically.

  • Normal End Date

    • Select an option

      • Next Day

        • The system calculates Expected Termination Date = Expected Date handover (or Handover Date) + Financing Term + 1D

      • Last Day

        • The system calculates Expected Completion Date = Expected Handover Date (or Handover Date)+Financing Period

  • Default Expected Handover Date

    • Based on this setting, the system will automatically add the Date of expected handover to the calculation/contract

    • Values:   

      • First Day This Month

      • Current day

      • First Day Next Month

    • The first or last option is recommended for the calendar method of calculating the payment periods

    • For the technical method of calculating the period, the Current Day is recommended

  • Calculation Type

    • In this field, there are several financial calculation models to choose from

    • Default = Default.

  • Parameter Type Calculation

    • This field must be set to Default

  • Calculation Object No.

    • Leave the default value (0).

  • Parameter Calculation Object No.

    • Leave the default value (0).

  • Contract Parametr Calculation

    • The setting determines whether the system calculates indicators automatically when payments are started (automatic) or whether the calculation must be run manually by the user (manual)

    • The recommended setting is automatic

  • Base for Calculation Starting Date

    • Specifies which date to base the calculation on for the calculation start date

    • Editable only if Calculation Start is Handover Date = No.

  • Calc.for Calculation Starting Date

    • In this field, the user enters the date formula that the system will use to calculate the calculation start date on the financing contract

    • Editable only if Calculation Start is Handover Date = No.

  • Base for Down Payment Date

    • Specifies the date on which the calculation for the forward payment date should be based

  • Calc.for Down Payment Date

    • In this field, the user enters a date formula that the system will use to calculate the advance payment date on the financing contract.

  • Base for Posting Date

    • Specifies the fulfillment of the posting date of the payment

    • Possibilities:

      • By Payment Date (according to the due date)

      • First Day of Paym. Period

      • Last Day of Paym. Period

  • Calculate Posting Date (Calc. For Posting Date)

    • In this field, the user enters a date formula that the system will use to calculate the Posting Date from the due date according to Fulfillment of Posting Date

  • Base for VAT Date

    • Specifies the fulfillment of the VAT date of the payment

    • Possibilities:

      • By Payment Date (according to the due date)

      • First Day of Paym. Period

      • Last Day of Paym. Period

  • Insurance Calculation Method

    • If set, the system will use this option in the insurance contract when creating an insurance contract, and not the method that is set in the insurance contract settings.

  • Pro Rata in First Payment

    • If checked, the posting date of the first payment will be (incomplete) immediately in the period of this payment.

    • If not checked, the U pro rata posting date will be from the next instalment – it is paid "pro rata" with the full instalment. In insurance calendars, a separate payment line is created, but it has the same Posting date as the first full payment.

    • This setting applies only to the calendar period of insurance. There is no technical period for rata at the beginning.

    • If the setting on the given contract model is such that there is no incomplete period at the beginning of the contract payment calendar, it cannot be set "Pro rata in the first payment" = YES. In this case, the system is not able to assign the lost payment to the contract payment calendar and displays a message

 

image-20240604-173126.png

 

LS Deployment Tab (Contract Settings)

Field:

  • Simple Fee Type Setting

    • The value in this field must always be "Standard"

  • Simple Fee Setting Object No.

    • Always leave the default value in this field 0

  • Insurance Type Setting

    • The value in this field must always be "Standard"

  • Insurance Setting Object No.

    • Always leave the default value in this field 0

  • Services Type Setting

    • There must always be a "Codeunit" value in this field

  • Services Setting Object No.

    • In this field, leave the value for 4026682 service objects (for operative leasing and fleet management)

  • Part Payment Type Setting

    • The value in this field must always be "Standard"

  • Part Payment Setting Object No.

    • Always leave the default value of "0" in this field