Back payment plan information is recorded on the back payment plan window accessed by clicking the "New" button. This 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.
Interest Rates: Displays the interest rate to be applied to payments processed before the due date and the interest rate to be applied to delayed payments. The rate is entered as percentage.
The payment formula and conditions of back payments and the payment dates are specified during plan definition. In this way, loss of time and errors in the use of the Debt Tracking system and payment checks can be eliminated.
Plan definitions can contain as many lines as required. The fields and functions of plan criteria are:
Formula: This field is used to specify the amount of transaction that the back payments will close. 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.
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.
Service Commission: The service commission rate applied by the bank. This field is activated when the bank commission rates included or the only service commission is included option is selected on the amount calculation field.
Point Commission: The point commission rate applied by the bank. This field is activated when the bank commission rates included or the only point commission is included option is selected on the amount calculation field.
Due Date Difference Commission: The due date difference commission rate applied by the bank. This field is activated when the due date difference commission included option is selected on the amount calculation field.
Amount Calculation: The field used to specify the amount calculation criteria. The amount calculation field contains the following options:
- Gross
- Due Date Difference Commission Included
- Bank Commission Rates Included
- Only Point Commission is Included
- Only Service Commission is Included
Data is entered into the Service Commission, Point Commission or Due Date Difference Commission fields depending on the selection made on the Amount Calculation field.
Back Payment Day: The field used to enter the back payment day.
Back Payment Month: The field used to enter the back payment month.
Formula (Interest): Used to specify the back payment amount for the interests. 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.
Formula (RUSF): Used to specify the back payment amount for the RUSF. Functions and parameters can be used on the formula field.