3.2.3 Setting Billing Notice Days
You have to specify the number of calendar days before the repayment date, when a Billing Notice has to be generated for the customer (as a reminder of the payment).
The billing advice is generated for the mail medium. This notice is generated for repayment of all components.
Example
If a payment has been scheduled for 30 June 1997 for Mr. Brian Williams loan of USD 10,000 at 15%, you could send him a notice 10 days before the payment is due, on 20 June 1997 as a reminder of his payment which is due on 30 June 1997.
- If you have specified that automatic processes are to be carried out for holidays on the last working day, the notices slated for generation on the holiday is generated during end-of-day processing on the last working day before the holiday.
- If you have specified that the automatic processes are to be carried out on the next working day, notices slated for generation on the holiday is generated on the first working day that immediately follows the holiday, during beginning-of-day processing.
Example
Assume that the current system date is 20 June 1997, and 21 June 1997 is a holiday. You indicate that the payment notices should be generated 10 days in advance.
The notices for payments that are due on 30 June is generated, at the beginning of day (by the Automatic Contract Update function), on 20 June.
Notices meant for payments due on 1 July 1997 is generated during end-of-day processing on 20 June, if you specified that all automatic processes falling due right up to the next working date are to be processed on the System Date (today’s date). If not, the notices meant for 1 July is generated during beginning-of-day processing, on the working day immediately after the holiday, that is, 22 June.
Parent topic: Setting Product Preferences