Contract Header
The user enters information into some of the fields, others are auto populated based on configuration settings, these entries are outlined in the table below:
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Contract Start Date
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User defines
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Enter contract start date
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Interest Rate – P.A.
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ContractDefaultInterestRate
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Accrual Frequency
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User defines
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Typically, this is set to monthly. The default selection list is, monthly, quarterly, weekly.
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Interest Free Period Value
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ContractDefaultGracePeriodValue
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Interest Free Period
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ContractDefaultGracePeriod
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Payment Frequency Number
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User defines
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How often are we expecting them to pay in line with the payment frequency period.
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Payment Frequency Period
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ContractDefaultPaymentFrequencyPeriod
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Number of Payments
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Defaults to the number of payments defined in the terms setups.
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Day of Month Due
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Select which day of the month these payments will be due e.g., 15th of the month
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Starting From
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Adjust only if the payment start differs from today’s date.
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