6.2.3 Associate Discount Accrual Components to Products

This topic provides the systematic instructions to capture the Associating Discount Accrual Components to Product details.

After building Discount Accrual fee classes, associate the class with loans or bills products.
Specify the User ID and Password, and login to Homepage.

On the Homepage, navigate to Bills and Collections Product Definition screen.

  1. On the Bills and Collections Product Definition screen, click Discount Accrual.
    Discount Accrual Preference Association screen is displayed.

    Figure 6-2 Discount Accrual Preference Association


    Description of Figure 6-2 follows
    Description of "Figure 6-2 Discount Accrual Preference Association"
  2. On Discount Accrual Preference Association screen, click Default From Class to Associate Discount Accrual fee class with a product.
  3. Select the appropriate Discount Accrual fee class from the list of classes.
    The attributes defined for the Discount Accrual fee class defaults to the product. You have the option to modify the attributes defined for the class, to suit the requirement of the product you are creating. Alternatively, choose to define the Discount Accrual details for the product.
    The system derives the acquisition type based on the following criteria
    Product Type Inflow/Outflow Acquisition Type
    Asset Inflow > Outflow Discount
    Asset Inflow < Outflow Premium
    Asset Inflow = Outflow Par

    An asset here is a BC contract and Inflow/Outflow could pertain to the charges and discounted interest associated with a contract. Now, if the acquisition type derived by the system for a contract and the acquisition type of the Discount Accrual class linked at the product are different, system does not allow saving of a contract.

    An asset here is a BC contract, and Inflow/Outflow could pertain to the charges and discounted interest associated with a contract. Now, if the acquisition type derived by the system for a contract and the acquisition type of the Discount Accrual class linked at the product is different, the system does not allow saving of a contract.

Parent topic: Discount Accrual