Calculation creation in detail
- Petra Jankovicova
This chapter describes the process of calculation creation in detail, for general overview and short process please follow
How to create calculation in general
Calculation creation
To create new Financial Leasing you can use 2 possibilities :
Main Action menu - menu New - Create New Financing
Customer menu - from Customer Card - menu Home - Create New Financing
Calculation creation wizard
The system opens wizard with 4 steps:
Step choose:
Legal Form - Defines customers legal form (entrepreneur, non-entrepreneur, Legal Entity)
Customer - the list of customers filtered based on the selected value in the Legal Form field, so that if you select:
Legal Entity, only customers who have set Legal Form = Legal Entity and the contact related type = Company will be displayed
Individual Non-Entrepreneur, only customers who have set Legal Form = Individual Non-Entrepreneur and the contact related type = Company will be displayed
Individual Entrepreneur - only customers who have set Legal Form = Individual Entrepreneur and the contact related type = Company will be displayed.
Sales Person - Used for person created the Loan
Object identification:
FA No. - selection of fixed asset to be financed. Not necessary to select during calculation creation
Object Description - the name of the fixed asset
Click to the button Next
2nd step:
Financing Product Code - Loan type with predefined default Financing paramaters as Validation, Series No, Calculation parameters(Calendar Month, Calculation method, Financing period, Rates, Fees) or Invoicing (Posting Groups, Payment Terms). For more information please see How To Create Financing Product.
Part Payment Period - Financing period - Month, Quarter, Half Year, Year
Purchase Price
Down Payment %
Down Payment
Financed Amount
Residual Value
Payment Amount Excl. Tax
3rd step
Initial Fees - Fees for Issuying the Loan - separate invoice is automatically issued after the loan is approved
Service per Financing Period - Service amount is calculated in Payment Calendar
Insurance per Financing Period - Insurance amount is calculated in Payment Calendar
Financing Rate - Cost
Financing Rate - Margin
Financing Rate - total
Payment Amount Excl. Tax
4th step
The system summarize payment information, like Expected Termination Date, Insurance, Service and shows us Total Paid Amount. Continue to the button Finish to complete the wizard.
Calculation parameters
After the completing wizard system will create Financing Card with status Calculation.
Section General
Check the Financing product and Dates - Offer Creation Date, Offer Validity Date, Calculation Starting Date, Expected Termination Date.
The Financing Product has impact to the calculation method:
Interest- Customer reguraly repays interest and the principal amount in the last installment
Annuit- Customer reguraly repays interest and the principal amount in all installments
Section Calculation
Calendar Month - Possibility of Aliquot payment - if the Calculation Starting Date is not in the beggining of the month, the system splits the first payment for two payments - First payment from the Calculation Starting day to the end of the month and the last payment from the beggining of last month to the Expected Termination Date. It means the regular payments respect calendar month in Payment Calendar.
Daily Interest - It is possible to turn on only with calculation model INTEREST. If turned on, the system calculates interest exactly according to the number of days in a payment period under the same conditions (principal, interest rate) Formula: "Principal balance" * Rate / 365 (366) / 100 * Days.
Financing Periods (in Months) - although the repayment period is different from the Month always input in months
Principal Amount, Maximal Principal Amount, Interest Rates (Cost, Margin, Total) Fees nad Insurance.
Section Invoicing
Gen. Bus. Posting Group and Gen. Prod. Posting Group - the system post regular invoices according to these selected posting groups.
After changes, click in menu Home for Complete Calculation to display the changes.
Complete Calculation button
Complete Calculation button saves changes which were done within Financing Card, recalculates the Calculator, brings changes to the Payment Calendar and recalculates the Payment Calendar.
The Complete Calculation button is available on the Financing List and Financing Card. After pressing Complete Calculation, system perform a control whether there exist updated Abs/Rel values on the contract (in Calculator Lines).
If there exist explicitly added value of rel and abs values, the message is displayed:
“The Calculation function cannot be used because there are absolute or relative parts in the calculation lines. Recalculate the Contract via Calculation Lines.” This prevents absolute and relative values from being resete to default and keeps setup of Abs and Rel values.
If the Abs and Rel values in the calculator lines have not been changed in the contract, system continues to check the status of the contract:
If contract status >= Active, the message is displayed: "The detailed status of contract ... is ... Calculation update cannot be carried out." If Status < Active, the contract is recalculated. If user wants to recalculate active contract, it is possible through Calculator Lines > Finish.
Changes in Calculator Lines
You can modify calculated payment amounts manually via calculation lines (click in menu Home for Calculation Lines ). Please note that after the changes there, you need to click on Update to recalculate the lines so you can see the effect of your changes. This button only display changes in calculation lines so you can use it as a playground and simulation.
If you want to display changes performed in Calculation Lines to the Payment Calendar, click on Finish.
Follow up:
How to create calculation in general
How to create financing product
How to work with approval process