12 Automatic Processes
The following processes relating to the LC Module can be made automatic:
- Automatic closure
- Automatic calculation of periodic commission
- Automatic liquidation of periodic commission
- Automatic reinstatement of the LC amount
- Automatic status update
- Automatic accrual of commissions
- Generation of tracers
- Closure of open insurance policies
- Auto renewal of Open ended guarantees
The events that are to take place automatically are triggered off during the Batch Process. The batch process is an automatic function, run as a mandatory Beginning of Day (BOD) and End of Day (EOD) process. During EOD, the batch process should be run after End of Transaction Input (EOTI) has been marked for the day, but before End of Financial Input (EOFI) has been marked for the day. The tracer generation function should be run after end-of-financial- input (EOFI) has been marked for the day.
The contracts that will be processed by the batch processes depend on the definition in the Branch Parameters screen.
Note:
You should maintain the LC EOD function as a mandatory batch process, once as a BOD and the next as a Pre-EOC program. It is maintained in the EOC mandatory programs table of the Core Services module. The tracer generation function should also be defined as a mandatory EOD function.