Extension Override

A.1.21.1 Extension Override

You can post ‘EXTENSION OVERRIDE’ transaction when you want the system to bypass extension validations which are defined at contract level.

Note the following:

You can post a ‘EXTENSION OVERRIDE’ transaction only if you are authorized.
There are no validations done when an extension override transaction is posted.
Backdating an extension is allowed and also while backdating, system validates for the number of payments as of Transaction date.
If ‘EXTENSION OVERRIDE’ transaction is posted on a backdated transaction which has ‘TXN Date’ appearing before the transaction extension date, then all the transactions from the date of previous extension will be reversed and re-posted. Here again, no validation rules are checked.
You can post an ‘EXTENSION OVERRIDE’ transaction on seriously delinquent Loan accounts (only for IBL and not for pre-compute loans or amortized loans). On posting the transaction the following changes are done:
- The Due buckets in Customer Service > Summary > Account Details > Dues section are moved from Oldest Due Date.
- In the Customer Service > Account(s) section, the fields Days Past Due and Amount Due are updated based on revised Oldest Due Date.

Table A-43 To apply an extension override

Transaction	Parameters
OVERRIDE	TXN DATE Select the extension transaction date from adjoining calendar.
EXTENSION TERM Specify the required extension term in months.
PROCESS MASTER ASSOCIATED ACCOUNTS Select either Yes or No from the drop-down list. Selecting Yes posts the extension transaction to Master Account and Associated Accounts and selecting No posts extension only to current account.
PROCESS SAME PRODUCT TYPE AND FUNDING TYPE ACCOUNTS Select either Yes or No from the drop-down list. Selecting Yes posts the transaction on accounts belonging to same product type and selecting No posts the transaction to ALL accounts.
EXTENSION BASIS Select one of the following option as the basis for posting the extension from the drop-down list. OLDEST DUE DATE -To post extension considering the oldest unpaid due date. Any paid due buckets is not altered and original due dates are retained. UNPAID DUES - To post extension considering only the unpaid due buckets. Here the unpaid due dates are moved by adding the terms represented in the transaction. Unpaid dues are those for which Payment = N in Due Date History and may also include the partially paid amount (i.e. paid amount - tolerance amount).
CAPITALIZATION START DATE (INCLUDING GRACE DAYS) When extension is being posted on an account for which balance capitalization is enabled, select the next capitalization date from the adjoining calendar which by default includes the CAP GRACE DAYS before triggering the balance capitalization.
PROCESS SAME SALES ORDER NBR ACCOUNTS If selected as YES, then transaction is automatically posted to all corresponding account(s) which are having the same Sales Order number as that of current account where this transaction is being posted. However before posting, system considers the value defined for other parameters. See section, Processing with Combination of Transaction Parameters.

Transaction

Parameters

OVERRIDE

TXN DATE

Select the extension transaction date from adjoining calendar.

EXTENSION TERM

Specify the required extension term in months.

PROCESS MASTER ASSOCIATED ACCOUNTS

Select either Yes or No from the drop-down list. Selecting Yes posts the extension transaction to Master Account and Associated Accounts and selecting No posts extension only to current account.

PROCESS SAME PRODUCT TYPE AND FUNDING TYPE ACCOUNTS

Select either Yes or No from the drop-down list. Selecting Yes posts the transaction on accounts belonging to same product type and selecting No posts the transaction to ALL accounts.

EXTENSION BASIS

Select one of the following option as the basis for posting the extension from the drop-down list.

OLDEST DUE DATE -To post extension considering the oldest unpaid due date. Any paid due buckets is not altered and original due dates are retained.

UNPAID DUES - To post extension considering only the unpaid due buckets. Here the unpaid due dates are moved by adding the terms represented in the transaction. Unpaid dues are those for which Payment = N in Due Date History and may also include the partially paid amount (i.e. paid amount - tolerance amount).

CAPITALIZATION START DATE (INCLUDING GRACE DAYS)

When extension is being posted on an account for which balance capitalization is enabled, select the next capitalization date from the adjoining calendar which by default includes the CAP GRACE DAYS before triggering the balance capitalization.

PROCESS SAME SALES ORDER NBR ACCOUNTS

If selected as YES, then transaction is automatically posted to all corresponding account(s) which are having the same Sales Order number as that of current account where this transaction is being posted.

However before posting, system considers the value defined for other parameters. See section, Processing with Combination of Transaction Parameters.

Parent topic: Extensions