3 Charge Product Preferences
This topic provides the information to configure and maintain the charge product preferences.
The charge product preferences such as the charge basis, periodicity for charge application, application currency, etc. that will reflect on an account attached to the product can be maintained here.
To calculate the charges you would like to levy on an account, you have to specify the basis on which you would like to apply charges. For example, you may want to apply charges based on the debit turnover in an account. When you apply the charge product on an account or an account class, charges for the account will be calculated on this basis. The accounting entries would automatically be posted to the GLs that you specify for the charge product.
| Charge Basis | Description | Application |
|---|---|---|
| Item Count | Number of transactions | If the number of transactions during a liquidation cycle exceeds a certain number, you can levy a charge. |
| Adhoc Statement | Number of adhoc account statements | An account statements are normally generated at a specific frequency. If you generate a statement out of this frequency, you can levy a charge. |
| Account Statement | Number of account statements | You can fix the number of regular periodic (free) account statements for a liquidation cycle. For every extra account statement that you issue, you can levy a charge. |
| Turnover | Total turnover | You can charge on the basis of the turnover in an account. You can opt to levy charges on turnovers exceeding a certain amount. An SDE based on turnovers will be applied on an account only if the transaction code of the transaction is defined with ‘Include for Account Turnover.’ |
| Cheque Issued | Number of cheque's issued | You can fix the number of free cheques that can be issued for a liquidation cycle. For every extra cheque leaf issued, you can levy a charge. |
| Stop Payment | Number of stop payments | You can levy a charge for every stop payment instruction. |
| Account Opening | Account Opening | You can levy a charge on the opening of an account. |
This topic contains the following subtopics:
- Create Charge Product Preferences
This topic describes the systematic instructions to create charge product preferences. - View Charge Product Preferences
This topic describes the systematic instructions to view charge product preferences.