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The Rediscount Report (Customer Check/P. Note) is used to display the loss of value resulting from the due dates of customer checks and notes in portfolio, issued for collection or as collateral. The filter options used in the Customer Checks and P. Notes rediscount report are:
Filter | Value |
Listing | By Due Date / By Number |
Rediscount Interest Rate | Value entry |
Last Transaction Date | Date entry |
Rediscount Date | Date entry |
Check / P. Note Status | At Portfolio / Endorsed / To Collateral / Issued for Collection / Issued for Collection (Bounce Notif.) |
General Status | At Portfolio / Endorsed / To Collateral / Issued for Collection by the Bank / Issued for Collection (bounce notif.) |
General Status Date | Date entry |
Check / P. Note Portfolio No. | Group / Range |
Check / P. Note Serial No. | Group / Range |
Due Date Range | Start / End |
Auxiliary Code | Group / Range |
Division | Defined divisions |
Subtotal | No Subtotal / Daily / Weekly / Yearly |
Type | Customer Check / Customer P. Notes |
Debtor | Group / Range |
Place of Payment | Group / Range |
Bank of Customer Check | Group / Range |
Guarantor of P. Note | Group / Range |
Endorsed | Group / Range |
Bank Code | Group / Range |
Amount Interval | Value entry |
Currency | Currency types |
Rediscount Calculation Method | Simple Interest / Compound Interest |
Number of Days of a Year | 360 / 365 |
Check/P.Note Payroll Status | Draft / Approved / G/L Approved / Cancel |
The interest rate to be applied to the rediscount account is entered using the Finance Parameters option in the Administration section. The rediscount interest rate is entered as a yearly value. The calculation is performed using the rate entered here.
The Rediscount Report (Customer Check/P. Notes) can be generated for two purposes. If the rediscount interest amount will be officially calculated and registered as an expense, the annual rediscount interest amount issued by the T.R. Central Bank should be used as the rediscount interest.
If the loss of value against inflation will be calculated for the check or P. Note, the market interest rate or due date difference interest rate is processed as the Rediscount Interest Rate. In this case, the interest rate to be used should be entered into the filter line in order to allow the report to be printed with this interest rate. Rediscount reports calculate the net amount over 360 days according to this interest rate. The net value is calculated by subtracting the interest amount from the check/P. Note amount. According to this,
Net Value = P. Note or Check Amount - (1+ number of due days * interest / 360 )
The date required for the calculation is specified on the Reference Date filter line. The rediscount is calculated over the yearly interest rate as of the date entered here.