Back payment plans, to be used for credit and collateral transactions belonging to commercial bank accounts in local currency or in f. currency, are recorded by using Back Payment Plans option located in the F9/right mouse button menu of the Bank Accounts list.
Back Payment Plan Information
Back payment plan record consists of two panes. The upper pane of the record is used to record general information regarding the plan definition. The lines located at the bottom of the record are used to specify the back payment method and date. The fields and functions of the record are:
Plan Code: The code of the back payment plan. This field can contain up to 16 alphanumeric characters, and can be sorted and searched. Alphanumeric characters can be used for coding. The Code field is mandatory.
Plan Description: The name or the description of the back payment plan. The string is 50 characters long.
Back Payment Days: Back payment days are specified on week days field located at the right pane of the window. All days are checked as default in the application. Back payment dates are calculated according to the days specified here.
The days that should not be processed in back payment date calculations should be unchecked. In this way, only the checked days are processed while the back payment days are calculated and specified on the Day, Month and Year columns. If the back payment date is on an unchecked day, the transaction is postponed to the next day.
When all days are checked, since the payment date calculations processed also Saturdays and Sundays, a due date difference is applied to payments made on Monday.
Aux. Code: A second code field used to classify back payment plans. Contains 10 characters. The Aux. Code is used to classify plan definitions by company specific criteria.
Authorization Code: Used to define authorizations for each record. The string is 10 characters long. Each user may be authorized to use different records depending on the job definitions. Planning must be the first step in order to define authorizations by record. First, records to be accessed by each user or user group should be specified. Then, separate authorization codes are assigned to records accessible by each authorization group. Records are encrypted according to the information provided on the auth. code field so that only the users who log in with the specified authorization code can access and process the records.
Status: The field used to indicate whether or not the defined back payment plan will be used in transactions. This field has two options: Active and Passive. When active is selected, the plan definition is in active state, and can be used in transactions. When passive is selected instead, the plan definition is in passive state, and therefore cannot be used in transactions.
Start Date / End Date: The dates that specify the validity range of the back payment plan. The system date is displayed as default on this field, and can be changed if necessary.
Prepayment %: Displays the interest rate to be applied to payments processed before the due date. The rate is entered as percentage. The amount payable is calculated based on the rate entered here.
Interest on Delay%: Displays the interest rate to be applied to delayed payments. The rate is entered as percentage.
The date of each payment is calculated automatically by adding the Value (number of days) specified on the Day, Month and Year columns of the payment plan to the transaction date. The start date of the value is the Transaction Date. Debt tracking transactions process the payment/collection amounts and dates calculated by processing the formulas provided using parameters and functions in payment/collection plan definitions.
Back Payment Plan Line Info
The back payments dates and conditions are defined by payment plans. Plan definitions can contain as many lines as required. The criteria for each line are defined in columns.
These columns contain the following information:
Formula (Commission): Used to specify the back payment amount for the commission. Functions and parameters can be used on the formula field. Parameters and functions used on the formula field are listed by clicking on "…" button. The formula is generated using parameters, mathematical operations and functions.
Formula (Stamp Tax): Used to specify the back payment amount for the stamp tax. Functions and parameters can be used on the formula field.
Formula (BITT): Used to specify the back payment amount for the BITT. Functions and parameters can be used on the formula field.
Condition: This field is used to specify the validity condition of the line within the back payment plan. Logical functions and parameters are used for condition definitions.
Discount: Indicates the discount rate to be applied for payments before the due date.
Dates: The date of the payment or collection on the back payment plan line is recorded on the Day, Month and Year columns.
Rounding Base: The rounding base to be used if the planned back payment plan is decimal.
Back Payment Day and Month: Displays the day and month for the back payment. When the amount in plan line is paid, the transaction dates are transferred to these fields automatically.
Usage of Day/Month/Year Columns and Parameters in Back Payment Plans
The parameters and functions used in the formula and condition fields are:
Parameters
Name |
Description |
P28 |
Commission amount |
P29 |
Remaining Commission |
P30 |
BITT Amount |
P31 |
Remaining BITT Amount |
P32 |
Stamp Tax Amount |
P33 |
Remaining Stamp Tax Amount |
Functions
Name |
Usage |
Description |
MIN |
MIN ( , ) |
Returns the parameter with the lower value. |
MAX |
MAX ( , ) |
Returns the parameter with the higher value. |
ABS |
ABS ( ) |
Shows the absolute value of the number. |
AND |
... AND ... |
If all the conditions are true |
OR |
... OR ... |
If at least one of the conditions is true |
MOD |
MOD( , ) |
Shows the remainder of the division. |
DIV |
DIV ( , ) |
Indicates the integer part of the division result. |
> |
... > ... |
Greater than |
< |
...< ... |
Smaller than |
>= |
... >=... |
If greater or equal |
<= |
... <= ... |
If smaller or equal |
= |
... = ... |
If different (not equal) |
<> |
... <> ... |
If different (not equal) |
Using Back Payment Plans for Commission Payments
Back payment plan to be used for commission payments is defined in collateral records. Back payment transactions are automatically generated by the application considering the formulas and date information defined in back payment plan lines.
These payment transactions are reached by Commission Payments option located in F9-right mouse button menu of the collateral records and collateral slips list.
Payment information is recorded by Commission Payments list.