Synergi User Manual

Full Redemption Transaction - Fields Description

At this function, user will come across various fields or columns that needs to be maintained with relevant data.

The descriptions of the respective field or column, are as follows:-

Account Information (Panel)
Customer Name/ Customer ID.	This is the main holder’s customer name, and the related Customer ID number.
Account No.	This is a system generated credit facility account number.
Product	This is the currency code and product code with the related brief product description of the credit facility account.
Account Info	This is the brief details of the account, of which presently it is the status of the credit facility account, e.g., A - Active.
First Release On	This is the date that first disbursement of the credit facility has been performed on the account.
Tenor	This is the credit financing term of the credit facility, e.g., 108 By Month.
Expiry Date	This is the last date of the facility, and rightfully the last date that full repayment of the facility is to be made.

Account Information (Panel)

Customer Name/ Customer ID.

This is the main holder’s customer name, and the related Customer ID number.

Account No.

This is a system generated credit facility account number.

Product

This is the currency code and product code with the related brief product description of the credit facility account.

Account Info

This is the brief details of the account, of which presently it is the status of the credit facility account, e.g., A - Active.

First Release On

This is the date that first disbursement of the credit facility has been performed on the account.

Tenor

This is the credit financing term of the credit facility, e.g., 108 By Month.

Expiry Date

This is the last date of the facility, and rightfully the last date that full repayment of the facility is to be made.

Settlement Info. (Panel)
Notice Date	This is the issuance date of the redemption notice. Note: The default value of this field is the present system date. However, user can reselect another value, provided it is not a date earlier than the present system date.
Notice Period Required	This is the number of days or months in advance of which borrower has to notify a bank or financial institution of the intention to settle a credit facility’s outstanding in the redemption notice that is to be issued. Note: The applicable unit of time period for the value in this field is dependent on the value from the 'Notice Period Type' field. This field value will determine the penalty interest amount to be charged in the event no notice is given ,or notice is given, but the borrower comes and make the settlement amount earlier (also known as profit or interest in lieu).
Notice Period type	This is the unit of time period to be applied in a redemption notice. The options, are as follows:- D - Day M - Month Note: The default value is from the 'Notice Type' field of the related prepayment and prepayment penalties scheme of the credit facility account.
Redemption Date	This is the date that the redemption transaction is scheduled to be performed based on the required notice period in the redemption notice that is to be issued. Formula: Redemption Date = Notice Date + Notice Period Required (based on the selected unit of time period at the 'Notice Period Type' field) Note: The date value that can be displayed can be either equalled to or later than the date value at the 'Intended Date' field.
Intend Date	This is the date of which the redemption transaction is targeted to take place by the borrower, or the solicitors' firm representing the borrower. Note: The default value is from the 'Redemption Date' field. However, user can overwrite the value, provided the date not a value later than the 'Redemption Date' field, or a date earlier than the present system date.
Days Short	This is the balance number of days before reaching the redemption date as stated in the related redemption notice. Formula: Days Short = Redemption Date - Intended Date
Remarks	This is some justification or comments relating to the redemption transaction.

Settlement Info. (Panel)

Notice Date

This is the issuance date of the redemption notice.

Note: The default value of this field is the present system date. However, user can reselect another value, provided it is not a date earlier than the present system date.

Notice Period Required

This is the number of days or months in advance of which borrower has to notify a bank or financial institution of the intention to settle a credit facility’s outstanding in the redemption notice that is to be issued.

Note:

The applicable unit of time period for the value in this field is dependent on the value from the 'Notice Period Type' field.
This field value will determine the penalty interest amount to be charged in the event no notice is given ,or notice is given, but the borrower comes and make the settlement amount earlier (also known as profit or interest in lieu).

Notice Period type

This is the unit of time period to be applied in a redemption notice.

The options, are as follows:-

D - Day
M - Month

Note: The default value is from the 'Notice Type' field of the related prepayment and prepayment penalties scheme of the credit facility account.

Redemption Date

This is the date that the redemption transaction is scheduled to be performed based on the required notice period in the redemption notice that is to be issued.

Formula:

Redemption Date = Notice Date + Notice Period Required (based on the selected unit of time period at the 'Notice Period Type' field)

Note: The date value that can be displayed can be either equalled to or later than the date value at the 'Intended Date' field.

Intend Date

This is the date of which the redemption transaction is targeted to take place by the borrower, or the solicitors' firm representing the borrower.

Note: The default value is from the 'Redemption Date' field. However, user can overwrite the value, provided the date not a value later than the 'Redemption Date' field, or a date earlier than the present system date.

Days Short

This is the balance number of days before reaching the redemption date as stated in the related redemption notice.

Formula:

Days Short = Redemption Date - Intended Date

Remarks

This is some justification or comments relating to the redemption transaction.

Full Redemption Details (Pop-Up Window)
<Item Outstanding> (Section)
<Items Category and Breakdowns> (Sub-Panel)
<Total> Main Items	This is the total of main outstanding items amount (in the account currency) that is required to be settled in the credit facility account.
Gross Balance	This is the credit facility account’s existing gross outstanding balance (in account currency); principal and interest outstanding including all other charges and penalty interest on late payment (must be accounted as the credit facility’s debtor general ledger account).
<Total> Other Debit Items	This is the total outstanding amount (in the account currency) of other repayment items debited into the credit facility account, that is to be paid during settlement into the credit facility account.
Late Fees Outstanding	This is the outstanding penalty amount (in the account currency) on overdue repayment to be paid during settlement in the credit facility account.
Interest In Lieu of Notice	This is the profit or interest charged (in the account currency) in the event that customer settles the credit facility’s outstanding amount stated in the redemption notice before the specified redemption date (also known as the redemption notice due date). Some banks or financial institutions will typically impose three months of profit or interest in lieu of notice in each of the redemption notice been requested. Formulae: (For the 'F - Fixed' charge method) Profit In Lieu Of Notice = (Redemption Amount x Profit In Lieu Of Notice Interest Rate) / 100 (For the 'P - Prevailing Rate' charge method) Profit or Interest In Lieu Of Notice = (Redemption Amount x Present Interest Rate Of The Credit Facility x No. Of Days Short Notice ) / (Day Base x 100)
<Total>Additional Late Charges	This is the total additional penalty amount (in the account currency) arising from early settlement, that is to be paid during settlement into the credit facility.
Add Late Fees To Be Charged	This is the additional penalty amount (in the account currency) that will be imposed, in the event if settlement is to be performed within the credit facility bonding period. Formulae: (For the 'A - Per Annum' charge method) Additional Penalty = (Amount x Penalty Interest x Remaining Months Between Credit Facility Expiry Date, And The Redemption Date) / (Day Base x 100) (For the 'M - Per Month' charge method) Additional Penalty = (Amount x Penalty Interest x 12 x Remaining Months Between Credit Facility Expiry Date, And The Redemption Date) / (Day Base x 100) (For the 'F - Flat' charge method) Additional Penalty = (Amount x Penalty Interest) / 100 (For the 'T - Fixed Amount' charge method) _Additional Penalty = A certain fixed amount Note: The bonding period can be calculated as follows:- If the starting point is from the 'D - Disbursement Date', to take the difference between the Redemption Date, and the Release Date. If the starting point is from the 'P - Interest Commencement Date, to take the difference between the Redemption Date, and the credit facility’s installment commencement date. The Amount type that can be used to calculate the additional penalty to be charged for the settlement, are as follows:- 1 - Original Approved Amount 2 - Principal Outstanding Day base of the respective credit facility account is pre-maintained in system.
<Total> Rebate Items	This is the total amount (in the account currency) that can be refunded during settlement into the credit facility account.
Rebate Amount	This is the total unearned interest amount (in the account currency) that can be refunded during settlement into the credit facility account.
<Summary of Settlement Amount>(Sub-Panel)
Actual Rebate	This is the 'actual' amount (in the account currency) of unearned interest to be refunded during the early settlement of a credit facility.
Rebate Months	This is the number of months of unearned interest to be refunded (computed based on the 'Actual Rebate' field value) during the early settlement of a credit facility.
Redemption Amount	This is the total amount (in the account currency) to be repaid for the intended settlement of the credit facility.
Additional Charges	This is the further ad hoc fees or charges amount (in the account currency) to be imposed during the early settlement of the credit facility.

Full Redemption Details (Pop-Up Window)

<Item Outstanding> (Section)

<Items Category and Breakdowns> (Sub-Panel)

<Total> Main Items

This is the total of main outstanding items amount (in the account currency) that is required to be settled in the credit facility account.

Gross Balance

This is the credit facility account’s existing gross outstanding balance (in account currency); principal and interest outstanding including all other charges and penalty interest on late payment (must be accounted as the credit facility’s debtor general ledger account).

<Total> Other Debit Items

This is the total outstanding amount (in the account currency) of other repayment items debited into the credit facility account, that is to be paid during settlement into the credit facility account.

Late Fees Outstanding

This is the outstanding penalty amount (in the account currency) on overdue repayment to be paid during settlement in the credit facility account.

Interest In Lieu of Notice

This is the profit or interest charged (in the account currency) in the event that customer settles the credit facility’s outstanding amount stated in the redemption notice before the specified redemption date (also known as the redemption notice due date). Some banks or financial institutions will typically impose three months of profit or interest in lieu of notice in each of the redemption notice been requested.

Formulae:

(For the 'F - Fixed' charge method)

Profit In Lieu Of Notice = (Redemption Amount x Profit In Lieu Of Notice Interest Rate) / 100

(For the 'P - Prevailing Rate' charge method)

Profit or Interest In Lieu Of Notice = (Redemption Amount x Present Interest Rate Of The Credit Facility x No. Of Days Short Notice ) / (Day Base x 100)

<Total>Additional Late Charges

This is the total additional penalty amount (in the account currency) arising from early settlement, that is to be paid during settlement into the credit facility.

Add Late Fees To Be Charged

This is the additional penalty amount (in the account currency) that will be imposed, in the event if settlement is to be performed within the credit facility bonding period.

Formulae:

(For the 'A - Per Annum' charge method)

Additional Penalty = (Amount x Penalty Interest x Remaining Months Between Credit Facility Expiry Date, And The Redemption Date) / (Day Base x 100)

(For the 'M - Per Month' charge method)

Additional Penalty = (Amount x Penalty Interest x 12 x Remaining Months Between Credit Facility Expiry Date, And The Redemption Date) / (Day Base x 100)

(For the 'F - Flat' charge method)

Additional Penalty = (Amount x Penalty Interest) / 100

(For the 'T - Fixed Amount' charge method)

_Additional Penalty = A certain fixed amount

Note:

The bonding period can be calculated as follows:-
- If the starting point is from the 'D - Disbursement Date', to take the difference between the Redemption Date, and the Release Date.
- If the starting point is from the 'P - Interest Commencement Date, to take the difference between the Redemption Date, and the credit facility’s installment commencement date.
The Amount type that can be used to calculate the additional penalty to be charged for the settlement, are as follows:-
- 1 - Original Approved Amount
- 2 - Principal Outstanding
Day base of the respective credit facility account is pre-maintained in system.

<Total> Rebate Items

This is the total amount (in the account currency) that can be refunded during settlement into the credit facility account.

Rebate Amount

This is the total unearned interest amount (in the account currency) that can be refunded during settlement into the credit facility account.

<Summary of Settlement Amount>(Sub-Panel)

Actual Rebate

This is the 'actual' amount (in the account currency) of unearned interest to be refunded during the early settlement of a credit facility.

Rebate Months

This is the number of months of unearned interest to be refunded (computed based on the 'Actual Rebate' field value) during the early settlement of a credit facility.

Redemption Amount

This is the total amount (in the account currency) to be repaid for the intended settlement of the credit facility.

Additional Charges

This is the further ad hoc fees or charges amount (in the account currency) to be imposed during the early settlement of the credit facility.

This window will be displayed after user has clicked once on the 'Compute' button or the 'View Computed' button.
The purpose of this window is to allow user to do the following:-
- To view the breakdown of the Redemption Amount to be paid for the intended full settlement of the outstanding of the selected credit facility account.
- To input value for the 'Additional Charges' field to be included into the 'Redemption Amount' field.

<Settlement Summary Details> (Panel)
Redemption Amount	This is the total amount (in the account currency) to be repaid, for the intended settlement of the credit facility account.
Final Payable	This is the final total amount to be paid (in the account currency) towards settlement of all outstanding amount in the credit facility account. Formula: Final Payable = Redemption Amount + Transaction Charges Note: The value of this field will be displayed once user has clicked once on the 'Confirm Charges' button.
Total Receipt Amount	This is the total sum (in base currency) of all the amount received across different transaction modes (cash, cheque or journal). Note: The default value of this column is set to 0.00.

<Settlement Summary Details> (Panel)

Redemption Amount

This is the total amount (in the account currency) to be repaid, for the intended settlement of the credit facility account.

Final Payable

This is the final total amount to be paid (in the account currency) towards settlement of all outstanding amount in the credit facility account.

Formula:

Final Payable = Redemption Amount + Transaction Charges

Note: The value of this field will be displayed once user has clicked once on the 'Confirm Charges' button.

Total Receipt Amount

This is the total sum (in base currency) of all the amount received across different transaction modes (cash, cheque or journal).

Note: The default value of this column is set to 0.00.

This panel will be displayed after user has clicked once on the button, located at the 'Full Redemption Details' pop-up window.
The purpose of this window is to allow user to do the followings:-
- To view the ultimate full settlement amount to be paid by borrower.
- To view the total amount inputted as repayment amount received across various available transaction mode (cash, or cheque, or journal) and compare with the 'Final Payable' field value.

Transaction Mode (Panel)
The available transaction modes that can be displayed here for the respective transaction are dependent on the practice of the bank or financial institution, and the arrangement made during system implementation stage.
Cash (Section)
Amount	This is the cash amount (in the cash currency) that has been received for the transaction.
Clearing Bank	This is the NOSTRO bank code to be used for the clearing of the cash transaction. Note: The value of this field are user definable via the following functions:- NOSTRO Bank Maintenance Branch NOSTRO Bank Maintenance The possible values that can be selected for this field are filtered by the selected banking concept from the 'Front Desk' function screen, the cash currency and login user’s branch, if applicable. The decision whether the possible bank codes are also filtered by branch, is dependent on the arrangement made during system implementation stage. The value of this field will be used for the generation of the related accounting entries after this credit facility repayment by cash transaction has been saved and after each EOD periodic process.
Remarks	This is the justification or comments made on the transaction performed.
Cheque (Section)
Amount	This is the cheque amount (in the cheque currency) that has been received for the transaction.
Cheque No.	This is the reference number of the cheque received for the transaction.
Clearing Bank	This is the NOSTRO bank code to be used for the clearing of the cheque transaction. Note: The value of this field are user definable via the following functions:- NOSTRO Bank Maintenance Branch NOSTRO Bank Maintenance The possible values that can be selected for this field are filtered by the selected banking concept from the 'Front Desk' function screen, the currency and login user’s branch, if applicable. The value of this field will be used for the generation of the related accounting entries after this full redemption by cheque transaction has been saved and after each EOD periodic process.
Cheque Type	This is type of the cheque received for the transaction. The possible values that can be selected, are as follows:- H - House Cheque L - Local Cheque Note: The available cheque types that can be selected, are dependent on the arrangement made during the system implementation stage.
Issue By	This is the code of the bank or financial institution of the cheque that has been received for the transaction.
Cheque Account No.	This is the account number of the cheque that has been received for the transaction.
New Float Day	This is the number of days that the cheque will be cleared.
Journal (Section)
Amount	This is the amount (in the journal GL currency) that will be debited from the selected journal general ledger account at the 'GL Code' column for the transaction.
GL Code	This is the journal general ledger (GL) code to be used in order for the fund to be debited for the transaction. Note: Journal GL codes are user definable via the 'Journal GL Code Maintenance' function.
Reference No	This is the reference number of the related advice issued.

Transaction Mode (Panel)

The available transaction modes that can be displayed here for the respective transaction are dependent on the practice of the bank or financial institution, and the arrangement made during system implementation stage.

Cash (Section)

Amount

This is the cash amount (in the cash currency) that has been received for the transaction.

Clearing Bank

This is the NOSTRO bank code to be used for the clearing of the cash transaction.

Note:

The value of this field are user definable via the following functions:-
- NOSTRO Bank Maintenance
- Branch NOSTRO Bank Maintenance
The possible values that can be selected for this field are filtered by the selected banking concept from the 'Front Desk' function screen, the cash currency and login user’s branch, if applicable.
The decision whether the possible bank codes are also filtered by branch, is dependent on the arrangement made during system implementation stage.
The value of this field will be used for the generation of the related accounting entries after this credit facility repayment by cash transaction has been saved and after each EOD periodic process.

Remarks

This is the justification or comments made on the transaction performed.

Cheque (Section)

Amount

This is the cheque amount (in the cheque currency) that has been received for the transaction.

Cheque No.

This is the reference number of the cheque received for the transaction.

Clearing Bank

This is the NOSTRO bank code to be used for the clearing of the cheque transaction.

Note:

The value of this field are user definable via the following functions:-
- NOSTRO Bank Maintenance
- Branch NOSTRO Bank Maintenance
The possible values that can be selected for this field are filtered by the selected banking concept from the 'Front Desk' function screen, the currency and login user’s branch, if applicable.
The value of this field will be used for the generation of the related accounting entries after this full redemption by cheque transaction has been saved and after each EOD periodic process.

Cheque Type

This is type of the cheque received for the transaction.

The possible values that can be selected, are as follows:-

H - House Cheque
L - Local Cheque

Note: The available cheque types that can be selected, are dependent on the arrangement made during the system implementation stage.

Issue By

This is the code of the bank or financial institution of the cheque that has been received for the transaction.

Cheque Account No.

This is the account number of the cheque that has been received for the transaction.

New Float Day

This is the number of days that the cheque will be cleared.

Journal (Section)

Amount

This is the amount (in the journal GL currency) that will be debited from the selected journal general ledger account at the 'GL Code' column for the transaction.

GL Code

This is the journal general ledger (GL) code to be used in order for the fund to be debited for the transaction.

Note: Journal GL codes are user definable via the 'Journal GL Code Maintenance' function.

Reference No

This is the reference number of the related advice issued.

Clearing Bank LOV (Pop-Up Window)
Search	This is the value to be used to filter the list of clearing banks below, in the search for the relevant clearing bank record.
Bank Code	This code associated with the respective NOSTRO Bank.
NOSTRO	This is the unique reference number of the respective NOSTRO Bank of a bank or financial institution (also known as NOSTRO ID).
Description	This is the brief definition of the respective NOSTRO Bank associated with a 'NOSTRO ID'.

Clearing Bank LOV (Pop-Up Window)

Search

This is the value to be used to filter the list of clearing banks below, in the search for the relevant clearing bank record.

Bank Code

This code associated with the respective NOSTRO Bank.

NOSTRO

This is the unique reference number of the respective NOSTRO Bank of a bank or financial institution (also known as NOSTRO ID).

Description

This is the brief definition of the respective NOSTRO Bank associated with a 'NOSTRO ID'.

The 'Clearing Bank LOV' window will pop up once user has mouse over at the 'Clearing Bank' field located at either the 'Cash' or 'Cheque' section under the 'Transaction Detail' panel.
The purpose of the window is to allow user to select the relevant clearing bank for use.
The available clearing bank codes can be pre-maintained using the following functions:-
- Banker
- NOSTRO Banker
- Branch Banker

Issue By LOV (Pop-Up Window)
Search	This is the value to be used to filter the list of cheque book issuance bank.
Bank Code	This is the code associated with the respective NOSTRO Bank.
Description	This is the brief definition of the respective NOSTRO Bank associated with a 'NOSTRO ID'.

Issue By LOV (Pop-Up Window)

Search

This is the value to be used to filter the list of cheque book issuance bank.

Bank Code

This is the code associated with the respective NOSTRO Bank.

Description

This is the brief definition of the respective NOSTRO Bank associated with a 'NOSTRO ID'.

The 'Issue By LOV' window will pop up once user has mouse over at the 'Issue By' field located at the 'Cheque' section under the 'Transaction Detail' panel.
The purpose of the window is to allow user to select the relevant cheque issuance bank for use.
The available issuance bank codes can be pre-maintained using the 'Banker' function.

GL Code LOV (Pop-Up Window)
Search	This is the value to be used to filter the list of GL Codes displayed below.
GL Code	This refers to the unique reference number of respective GL.
Description	This refers to the name of the respective GL code.

GL Code LOV (Pop-Up Window)

Search

This is the value to be used to filter the list of GL Codes displayed below.

GL Code

This refers to the unique reference number of respective GL.

Description

This refers to the name of the respective GL code.

The 'GL Code LOV' window will pop up once user has mouse over at the 'GL Code' field located at either the 'Journal' section under the 'Transaction Detail' panel.
The purpose of the window is to allow user to select the relevant Journal GL account or code.
The available Journal GL accounts or codes can be pre-maintained using the 'Journal GL' function.