Calculate Arrears
Purpose
A powerful arrears calculator function is available in the Fixed Loan Enquiry screen
The calculator allows a credit controller to give a precise quote of an expected payment to a client for a future date, taking into account whether instalments, default interest and letter fees should be included in that future amount.
Prerequisite
A memo Communication Type should be created and selected to the Fixed Loan | Edit/View Control Details under 'Calculate Arrears Quote Communication Type'
This only needs to be completed once.
Access
- Fixed Loan Browse |
|
Dialog Details
Field | Explanation |
Default Interest Date | Enter the date calculations will be made to (agreed payment date) |
Include Future Instalments | Check on if any instalment due between today and the Default Interest date should be included in the Total Owing |
Issue Quote | Check on if a Memo Communication should be created for the arrears quote The communication created will populate the communication description field with details of the arrears quote, including the staff member who has provided the Quote |
Change Direct Debit | Check on if the Direct Debit Next Amount and Date should be updated when the amount is calculated The Next Date will be the Default Interest date |
Include Letter Fee | Check on if the next Overdue letter fee is to be included in the arrears quote If the checkbox is left blank, then the Next Letter Due date will be updated to the day following the specified Default Interest Date if that date is the same or later than the Next Letter date |
Dialog Buttons
| Field | Explanation |
| Click to calculate the Total Owing and perform the updates requested | |
| Click to load Direct Debit Payment arrangement if the repayments will be over a number of dates |
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