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Former Member
Jun 16, 2009 at 06:29 AM

Functionalities

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Dear Experts,

There are requirements to cater the following

1. Facility to create different credit Schemes with varied interest rates, max credit period etc.

2. Unequal installments (due to rounding off to nearest KD, 1st installment will be a different value)

3. Income recognition to be based upon reducing balance method.

4. Early settlement (with option to charge interest contained in no. of future installments)

5. Late payment charges to be automated based upon difference in due date & payment date.

6. Early payments made by customers without asking for refund of interest u2013 revenue to be recognized early.

Can you please adv which sub module of Finance can meet above requirements.

Thanks,