PrimeSoft Solutions (K) Ltd SAVCO Loan Penalties 3.5 4.x.
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Transcript of PrimeSoft Solutions (K) Ltd SAVCO Loan Penalties 3.5 4.x.
PrimeSoft Solutions (K) Ltd
SAVCO
Loan Penalties
3.5 & 4.x
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
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
Where to Find Relevant Company Settings
Loan Product Settings on Loan Penalty
This is an Example – More Than 50 Loan Settings Available
Loan Penalty Destiny From Workbench
Generate Loan Penalties
Generate Journals?
YesNo
Journal Generated Awaiting Amendment and Posting
Remittance Workbench Waiting Confirmation and Posting
Loan Penalty Work Bench – Accessing Thru Menu
Loan Penalty Work Bench
Previous Working is Displayed - You can Redo
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
Loan Penalty Work Bench – Report
Shows Report Below
Loan Penalty Work Bench – Recovery Notices
Generates Loan Notice for the Selected Defaulted Loan or All Notices if no Specific Loan is Selected
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
Loan Penalty Work Bench – Generated Journal
Edit and Post in the Usual Way
PrimeSoft Solutions (K) Ltd