Calculation set up in OC Loans App
- Molitorisová Marianna
This article is about detail set up calculation, but you can also read How To Create Calculation in general.
General
In 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
Calculation
In section Calculation check:
Calendar Month - possibility of Aliquot payment - if the Calculation Starting Date is not in the beggining of the month, the system split the first payment to 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 / 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.
Part Payment Due Date - determines when repayments will be posted:
At the beginning - instalments will be charged at the beginning of the financing period
At the end - instalments will be charged at the end of the financing period.
For more information follow the link: https://support.microsoft.com/en-us/office/pmt-function-0214da64-9a63-4996-bc20-214433fa6441
Invoicing
In section Invoicing check:
Gen. Bus. Posting Group and Gen. Prod. Posting Group - the system post regular invoices according to these selected posting groups.
Note:
To post regurely invoices use:
Manually - for separately posting - use menu Process - Payment Calendar and click to the button Post. You can not skip the payments to be posted. It must be posted consecutively.
Massive - To post all invoices for Loans filtred by selected parameters - use Action menu Processing - Finance Payment Posting - Posting in main system page.
How to create calculation in general
How to create calculation in detail