Credits from banks are recorded by making a selection from the following record types.
- Import Credit
- Export Credit
- Investment Credit
- Operation Credit
- Non-Cash Credit
Credit Record Info
Credit information is recorded using the New option in Finance > Definitions > Credits browser.
The following information is recorded on the definition window:
Code: The record code of the credit. The Code field is mandatory.
Description: The name or the description of the credit.
Contract Date: Indicates the date on which the loan contract is signed.
Aux. Code: Used to classify credits by company specific criteria. It is also used as a filter on reports.
Authorization Code: The authorization code of the credit definition. Used to define detailed authorizations. The string is 10 characters long. Each user may be authorized to use different records depending on job definitions. 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.
Document Number: The credit document code.
Organizational Unit: Indicates the organizational unit of the credit. The recorded organizational unit definitions are listed and the related definition is selected.
Distribution Template: This field is used to associate the relevant distribution template to the credit. The Distribution Template field opens the Account Distribution Templates browser. The code and description of the selected template are transferred to the relevant fields on credit definition cards directly. Analysis dimension details specified in the selected distribution template are reflected to the payment and collection transactions of the credit by default.
If the "Credit Collection Will Be Done" is selected, a bank slip of Collection type is generated. Analysis details defined in the selected distribution template are reflected to the analysis detail lines of the bank collection slip.
Credit Info
Credit Account Type: This field is available for only Operation Credit Type. The options are Spot, Revolving and Other.
Start Date: Indicates the Start Date of the credit.
Due Date: It determines when the credit will be closed. According to this date, system considers the due date primarily in comparison to the installment number field, while generating planned payments related to the credit. If no value is provided in Due Date field, then the installment number, period unit and fixed period values are taken into consideration as a basis to calculate the due date and the result is transferred to this field.
If the payment type is Variable Installment, the installment number is not specified and the dye date is entered, "capital / interest payment start + order no. + period value" is calculated to generate the planned payment lines according to the due date.
If the payment type is Fixed Installment, the installment number is not specified and the dye date is entered, "Do you want to generate planned payment lines?" message appears. While generating planned payment lines, system generates the installments according to the fixed period values and period unit until the Due Date arrives. If due date is taken into consideration to generate planned payment lines when the payment type is Fixed Installment or Variable Installment, and the last planned payment date calculated by the system is different than the due date, the date which system calculated is considered. However, user is informed with "The last planned payment date is different than the Due Date!" message.
Example:
Due Date = April 07, 2014
Start Date = January 01, 2014
Period Unit = Month
Fixed Period = 1
Payment Type = If Fixed Installment, Last Planned Payment Date is calculated as "April 01, 2014"
Eximbank Credit: Used in export credits. Indicates that the credit is obtained from Eximbank. If Eximbank is not checked in Export Credits, the relevant credit would be credit in FC.
Amount: Amount of the credit contract.
Number of Installments: When the payment type is selected as Fixed Installment, the number of installments is entered in this field.
Period Unit: Lists day, month and year options.
Fixed Period: When the payment type is selected as Fixed Installment, installment payment duration is calculated by considering the period value provided in this field.
Value Date: This field is used to calculate interest rates by calculating the value date which will be included in the number of days in Credit. Certain banks give a value day, namely an extra day (+1) in addition to the normal credit days and calculate interest accordingly by adding a plus day to the Due Date.
Value Date can be included in interest amount calculations only for the credits of which payment type is Variable Installment. Interest amount is calculated for the credits of which payment type is Variable Installment upon the duration of the period. While calculating, value specified in Value Date field is added to the period. Value-date application applies for all installments. Installment dates do not change.
Payment Type: Payment type of the credit is specified in this field. Fixed installment, variable installment and back payment plan options are listed. When the Fixed installment option is selected, the Capital Payment Start, Period Unit and Fixed Period fields can be entered. Back Payment Plan, Interest Payment Start Date, Interest Installment Number and variable periods list of interest cannot be entered.
When the payment type is variable, users cannot enter value in Fixed Period and The Number of Installments fields.
When the back payment plan is selected, users cannot enter value in The Number of Installments, Period Unit, Fixed Period, Interest Type, Capital Payment Details Group and Interest Payment Details Group fields.
Back Payment Plan: When the payment plan is Back Payment Plan, back payment plans browser is opened and the relevant plan is selected. Back payment plan cannot be selected without specifying a credit account code.
Interest Type: Lists simple interest and compound interest options.
Additional Interest Rate: Additional interest rate of the credit is specified in this field. Additional interest rates browser is opened and the relevant rate is selected.
Capital Payment Start Date: The start date of the capital payment is specified in this field.
Number of Installments: The number of capital payment installments is entered in this field.
Interest Payment Start Date: The start date of the interest payment is specified in this field.
Number of Installments: The number of interest payment installments is entered in this field.
Reporting Currency: Reporting currency of the credit. Using 
button in Exchange Rate field you can access Daily Exchange Rates browser and select the relevant currency. Type that you've selected in Company definitions appear in the Total field. It cannot be changed.
Transaction Currency: Indicates the currency which will apply in case of saving credit transaction in a currency other than the Local Currency.
Interest % (Yearly): Annual interest rate of the bank is entered in this field.
Additional Interest %: When additional interest rate is specified, interest rate is automatically transferred to the field. It can also be specified manually without selecting and additional interest rate definition.
BITT %: Banking and insurance transaction tax (BITT) information of the credit.
RUSF %: Resource utilization support fund (RUSF) information of the credit.
Expense and Commission: Expenses and commissions incurred for the credit are specified in this field.
Expense included in payment plan: This check box is used to determine whether the expense amount will be distributed to the back payment plan installment lines. If it is checked, expense amount specified in Expense and Commission field will be included in planned installment lines.
Open Limit: Shows the available bank limit. This field cannot be entered manually.
Credit Total: Shows total credit information. Total amount to be paid back is shown in this field.
Account Info
Bank Code: The bank code of the account selected on the Account Code field. This field cannot be entered directly. The bank code of the account selected on the Account Code field is transferred into the field.
Bank Name: The bank name of the account selected on the Account Code field. This field cannot be entered directly. The bank name of the account selected on the Account Code field is transferred into the field.
Account Code: The bank account related to the credit. Bank accounts recorded with general credit type are listed, and the related account is selected.
Account Name: The name of the bank account related to the credit. When the Code field is filled in, the description is transferred into this field. However, recorded accounts can also be listed and selected through this field.
AR/AP Bank Info: The AR/AP which will be the relevant party in credit amount collection and credit installments payments is specified in these fields. Account Code field opens the Bank Accounts browser and all bank accounts of (CAC) Current Account type are listed. The relevant account is selected.
Materials
The Materials tab is available in Export Credits. It will be active for export credits provided that Eximbank Credit option is checked. Since Eximbank credits are given based on GTIP code, GTIP code of the materials pledged to be exported is selected in materials section and matched with the credit record.