Revolving credit is a short-term credit calculated for working capital requirements without a fixed interest. Revolving credit interests are calculated quarterly on daily basis and collected at the end of period.
Revolving credit interest rates are determined by period conditions and changes accordingly. Revolving credit is not applied a fixed interest rate. Within the scope of limit, it will provide the opportunity to use cash in the required amount at the required time. In according with cash flow, credit can be closed partially or completely before due date.
Revolving credits are specified in Loan Account Type field of credit definitions of Operation Credit type. If account type is selected as Revolving in an operation credit definition, payment type, back payment type, additional interest rate, installment number, period unit, fixed period, capital payment start date and interest payment start date fields become disabled. Start date, account info, credit amount and interest rate can be entered.
Revolving credit interest calculation and payment are performed using the Revolving Credit Interest Calculation option located under the Operations menu of Planned Payments window.
Due Date Start: Start date of the relevant period for interest calculation. Credit contract date appears in the first calculation. In the following calculations, the last interest calculation (interest payment) date will appear.
Due Date End: End date of the relevant period for interest calculation. Three months after the default credit contract appears in the first calculation. In the following calculations, three months after the last interest calculation (interest payment) date will appear.
Due Date Interest Rate: The valid interest rate for the period.
Due Date BITT Rate: The valid BITT rate for the period.
Capital Amount: The capital amount at the beginning of the period. Credit amount and the remaining capital amount will be displayed in the first calculation and the following calculations respectively.
Capital Payment Amount: Capital amount paid in the period.
Additional Credit Amount: Credits contracted as an additional amount for the credit in the period.
Due Date Interest Amount
Capital Amount: The interest amount calculated over the capital amount at the beginning of the period. Interest is calculated starting from the due start date and end date without considering the payments within the interest date range.
Capital Payment Amount: Negative interest rate calculated over the capital amount that is paid in the period. Amount is calculated for the period between the due start date and payment date. Interest accrues for each capital payment made within the range of due dates for the number of days starting from start due date to the payment date, and interest amounts of all payment amounts are added up.
Additional Credit Amount: Interest rate calculated over the credit amount contracted as an additional amount for the credit in the period. Amount is calculated for the period between the credit contract date and due end date. Interest accrues for each additional credit contracted within the range of due dates for the number of days starting from the contract date to the due end date, and interest amounts of all additional credit amounts are added up.
Expiry Date Interest Amount: The total of calculated interests. The amount is assigned as a transaction using the "Generate Payment Transaction" option.
Expiry Date BITT Amount: Total of interests calculated over BITT.
Due Date Interest Amount, Due Date BITT Amount and Capital Amount are specified. Calculations are done quarterly.
When date and interest rate is specified, amounts and interest rates (over amounts) are calculated after clicking the Calculate button.
After clicking the Generate Payment Transaction option, a payment transaction is generated for this operation. These transactions are listed in planned payment lines.