Repayment 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.

Outstanding Details (Panel)

Total Due

This is the total outstanding amount of the selected credit facility account (in account currency) that has been due for repayment.

Note: Click once on the 'More Details' hyperlink located at the Outstanding Details' panel, to view the breakdown details from the 'Other Details' pop-up window.

Next Due Detail

This is the next repayment due date, and the amount (in account currency) to be repaid in the next repayment due date of the selected credit facility account.

Last Payment Date

This is date that the most recent repayment has been made to the credit facility account.

Transaction Details (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.

Spread Details (Panel)

Compute Spread

This is the button to be clicked once, for system to allocate the payment amount received to the respective due outstanding credit repayment item.

Actual Transaction Date

This is the actual date the respective transaction is to be performed or created in system.

System will default the value to the present system date. However, user can overwrite te value in this column.

Payment Source

This is an indicator of the source of the payment for the credit repayment outstanding items.

Presently, the only available option is the 'STD - Standard Source' option, which means the credit repayment amount is sourced from borrower.

Note: The repayment priority scheme used for the 'STD' payment source must be pre-maintained at the 'Product Maintenance' function via the product parameter, REPAYM0020 (for active status accounts).

Total Receipt Amount

This is the total sum (in base currency) of all the amount received across different transaction modes.

Total Spread Amount

This refers to the total amount (in base currency) of the received fund that can be allocated for the repayment of the relevant outstanding credit facility repayment items, upon inputted fund received from various applicable transaction modes at the 'Transaction Details' panel.

Note:

  • The default value of this column is set to 0.00.

  • The value of this field will be computed and displayed, upon user clicking once on the 'Compute Spread' button.

<Total Spread Amount Breakdown> (panel)

If there are outstanding credit repayment items in the credit facility account, the related item records will be displayed in this panel once the 'Compute' Spread' has been clicked once.

However, user needs to click once on the Details icon at the respective outstanding credit repayment item record, to amend the value at the 'Description' column and the 'Amount to Collect' column.

Nevertheless, additional credit repayment item records can be added by clicking once the Add button.

Item Code

This is the payable credit facility outstanding item, e.g., PRC - Principal, INT - Interest, ADM - Administration Fees, INS - Insurance Fees, including the excess item, e.g., 'EX1 - Excess, in the account.

Amount O/S

This is the repayable credit item’s outstanding amount (in account currency) in the credit facility account that is due to for repayment by borrower.

Note: The value in this column is system computed and will be displayed once user has clicked on the 'Computed Spread'.

Amount to Allocate

This is the fund (e.g., cash, cheque and journal) amount (in account currency) received to be allocated for the respective credit facility repayment outstanding item as the repayment amount.

Note:

  • The value displayed in this column must be greater than 0.00.

  • Depending on the nature of the respective credit repayment item, the value in this column can be less than or equal to or greater than the value displayed at the related 'Amount O/S' column.

  • However, the total fund allocated for payment of all the credit facility outstanding item (also refers to the value displayed at the 'Total Spread Amount' field) cannot be greater than the transaction amount (also refers to the value inputted into the 'Total Receipt Amount' field). Otherwise, system will prompt an error message and user will not be able to proceed further unless both the fields' value matches.

Description

This refers to the further detail relating to the respective record of the received fund allocation for the related credit facility outstanding repayment item.
Other Details (Pop-Up Window)

Installment Due

This is the due periodic repayment amount (in account currency).

Other Item & Late Charges

This is the credit facility’s other advances or fees outstanding amount (in the account currency).

Some examples of advances or fees, are as follows:-

  • Legal Fees

  • Insurance Fees

  • Stamp Duty

Late Charges Accrued

This is the credit facility’s accumulated overdue interest penalty outstanding amount (in the account currency).

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).

Formula:

Gross Balance = Principal + Interest + Other Advances + Overdue Accrued + Total O/S

Principal Balance

This is the credit facility’s principal outstanding amount (in account currency).

Interest Balance

Interest simply refers to the money that is paid regularly at a particular rate for the use of money lent, therefore this field will display the credit facility’s interest outstanding amount (in the account currency).

<Items List> (Panel)

Item Code

This is the code of the respective credit module’s repayable item that is outstanding in the credit facility account, e.g., PRC - Principal, PGI - Progressive Interest, INT - Interest, ADM - Administration Fees, INS - Insurance Fees, including the excess item, e.g., 'EX1 - Excess.

Description

This is the brief details of the respective credit module’s repayable item that is outstanding in the credit facility account.

Outstanding Amount

This is the respective credit module’s repayable item’s outstanding amount in the credit facility account that is due to for payment by borrower.

  • The 'Other Details' window will pop up upon user clicking once on the 'More Details' hyperlink at the 'Outstanding Details' panel.

  • The purpose of this window is to allow user to view the breakdown of the 'Total Due' field value located at the 'Outstanding Details' panel.
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'.

  • 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.

  • 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.
Select Other Items You Wish to Collect (Pop-Up Window)

Item Code

This is the credit repayment item code that can be paid in the transaction, e.g., LC - Late Charges, ADM - Administration Fees and INS - Insurance Fees.

Note: This field will appear disabled for existing items in the transaction.

Description

This refers to the name of the respective credit repayment item code.

Balance

This refers to the outstanding amount of the respective credit repayment item in the account, that is required to be paid by borrower.

Amount to Collect

This is the amount to be collected for the respective outstanding credit repayment item in the credit facility account, based on the total amount of fund received.

  • The window will be displayed in the following manners:-

    • After user has clicked once on the Add button, located below the 'Actual Transaction Date' field.

    • After user has clicked once on the Details icon af the respective outstanding credit repayment item record at the 'Spread Details' panel.

  • The purpose of this window is to allow user to do the followings:-

    • To add repayment item code and related details for repayment collection purpose.

    • To make field value change on the following fields:-

      • Description

      • Amount to Collect.