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Update Calculation/Contract

Update Calculation/Contract

Owned by Lango: Language and translation manager
Last updated: Sept 05, 2024Version comment
2 min read

In case of some changes to the contract (even before activation), the calculation payments are recalculated. In the case of contracts without services, these are mainly:

  • Changes that have an impact on the determination of the REFI code and REFI rates.

    • When searching for the REFI code and the rates of the REFI code, the system is based on the parameters of the contract (currency, duration, interest rate type), while it takes into account the Reference Date of the contract when checking the validity of the REFI code and rates.

Summary of Fulfillment and Update of Reference Date:

  • It is filled in when a calculation/contract is created by the wizard for creation

  • Updated:

    • When Interest Rate Type Changes

    • When changing the REFI code

    • When posting an installment in any way

  • The Date reference does not update with other changes:

    •  Copying Calculation/Contract

    • Create Contract from Calculation

    • Change Duration

    • Etc.

Summary of compliance and updates of the REFI code and rates:

  • It is filled in when a calculation/contract is created by the wizard for creation

  • Updated:

    • When the duration is changed (the Reference Date is not updated)

    • when changing the Interest Rate Type

    • when changing the REFI code manually

    • during activation, if the Update on activation=Y flag is enabled on the REFI code. When updating as part of activation, the Handover Date is used and not the Reference Date

A detailed description of how to fill the fields is given for the field.

CZ localization (luxury tax)::

The calculation/inactive contract created before the legislative change for the unclaimed part of VAT needs to be updated in order to add the calculation input for the unused part of VAT. There are two ways to do this:

  • Open calc. overview inputs and close it again – the system will add a calculation input for unclaimed VAT, if necessary

Subsequently, recalculate the contract payments.

If the user does not perform this update before activating the contract, the system will automatically create the calculation input for the unused part of VAT when activating the contract, thus increasing the installment.