8.3.6 Floating Rate Change
While defining Floating Rates, you have the option of indicating whether the floating rates should automatically be applied to the bill every time they change, in the Product ICCB screen.
The Automatic Floating Rate Change function can be run as part of EOD.
This function will pick up following Bills:
- Active and authorized bills.
- Bills for which you have specified automatic Floating Rate change.
Every time the Floating rates change, the new rates will be applied for the number of days for which they remained unchanged in the rate table.
This is indicated in the example below.
Parent topic: Processes Run during Beginning of Day