primesoft solutions (k) ltd savco loan penalties 3.5 4.x
DESCRIPTION
Loan Penalty Pre-Requisites Settings Company Accounts/User Settings Penalty Account (A/C) A/C Also in Member Accounts Default Limit Days Transaction Destiny Loan Product Settings Penalty Calculation Method Company Accounts/User Settings Penalty Account (A/C) A/C Also in Member Accounts Default Limit Days Transaction Destiny Loan Product Settings Penalty Calculation MethodTRANSCRIPT
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PrimeSoft Solutions (K) Ltd
SAVCO
Loan Penalties
3.5 & 4.x
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How is Loan Penalty Calculated?
Based on Outstanding Loan Where Loan Due Days is Greater or Equal to Limit as:
•Fixed Amount•Percentage of Balance•Step Values on Lookup Table
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Loan Penalty Pre-Requisites Settings
Company Accounts/User Settings•Penalty Account (A/C)•A/C Also in Member Accounts•Default Limit Days•Transaction Destiny
Loan Product Settings•Penalty Calculation Method
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Where to Find Relevant Company Settings
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Loan Product Settings on Loan Penalty
This is an Example – More Than 50 Loan Settings Available
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Loan Penalty Destiny From Workbench
Generate Loan Penalties
Generate Journals?
YesNo
Journal Generated Awaiting Amendment and Posting
Remittance Workbench Waiting Confirmation and Posting
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Loan Penalty Work Bench – Accessing Thru Menu
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Loan Penalty Work Bench
Previous Working is Displayed - You can Redo
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Loan Penalty Work Bench – Over Due Calculations
Recalculates Over Due Loans whose Due Date is beyond The limit Days.Limit Days:Days beyond due date on which the loan penalties are calculated. It is set in company Settings. You can modify limit days on the workbench
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Loan Penalty Work Bench – Report
Shows Report Below
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Loan Penalty Work Bench – Recovery Notices
Generates Loan Notice for the Selected Defaulted Loan or All Notices if no Specific Loan is Selected
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Loan Penalty Work Bench – Post to Transactions
Generates Transactions based on Chosen Destination
See Next Slide What Happens When Journal Destination is Chosen in Company User Settings
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Loan Penalty Work Bench – Generated Journal
Edit and Post in the Usual Way
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PrimeSoft Solutions (K) Ltd