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Contract Rates Recalculation

Contract Rates Recalculation

Owned by Lango: Language and translation manager
Last updated: Sept 06, 2024Version comment
2 min read

The task performs mass updates of the contract interest (Base Interest and Cost Interest) from the REFI rate from the given REFI code. It is possible to recalculate both Fixed and Variable Interest.

Stopping and Creating new REFI Rates to REFI Code 

If the user wants to perform recalculations of contract rates, the user checks the interest rates of the REFI code before performing this task. If they are still valid for the following fixation period, there is no need to do anything.

If different rates are valid for the next period, it is necessary to stop the original rates and create new ones.

Contract Rates Recalculation Mass Task

To perform the mass recalculation, it is necessary to run the Contract Interest Recalculation task. The task is located in the Rolecenter and select Action – Changes – Contract Interest Recalculation:

When the OC task starts, it opens a dialog box:

The user then specifies:

  • From date – from what date you want to recalculate contracts

  • Or with the help of filters, it specifies which contracts and with which REFI code it wants to recalculate:

After confirming the Ok system:

  • searches for specified contracts with the appropriate REFI code

  • If there is a child on the contract. status such that it does not have the flag Allow Posting from Payment Cal. = Yes, so the contract is skipped and does not write in the log. This condition means that only active contracts can be recalculated (not before activation or after termination).

  • Then it replaces the Base Rate and Cost Rate on the found contracts, recalculates the Calculation Interest and then recalculates the contract (i.e. payments after the date).

Note: This recalculation must be performed after posting the payments for the old month and before posting the payments for the new month.

Recalculation Error Log

The Contract Interest Recalculation task as part of contract processing creates an entry in the Recalculation Log for each processed contract. An entry is created if an error is detected (e.g. no valid rates are found) and also if the recalculation is performed without error.

The recalculation error log is available via the menu (or via search) in the Rolecenter.

When you click on an option, the Recalculation Error Log opens.

Payment Calendar Print after Recalculation

Task Recalculate Contract Interest Rates Within Contract Processing If the recalculation ran without error and if the flag Payment calendar is tax document=A is on the contract, the Print queue flag of the contract switches to Yes.

The user then opens the print queue via Role Center / Print Queue (list of contracts with filter Print Queue=A).

From this queue, he can then print a payment calendar for the contracts (individually or in bulk) by marking the contract and then starting printing via Print Documents.

After printing the printout (creating a preview), the OC switches the flag of the contract to Print Queue to No, thus removing the contracts from the queue.