Payoff: Detailed Data
Use
On the Detailed Data tab you can display several capital amounts for the loan contract, make date entries and change the repayment terms.
For more information, see
Payoff.Procedure
In this section you also have the option of changing the Net Payoff Amount, which is also ready for input in the receivables list.
If the Partial Waiver indicator has been selected for the template in the IMG activity Define Template, the system proposes a partial waiver on the Details tab amounting the available disbursement obligation when you create a payoff. If necessary, you can change the proposed partial waiver amount. When you activate or post the payoff, the system generates a partial waiver for the amount specified as at the payoff due date. If the borrower decides on a partial waiver before the payoff has been fully negotiated (that is, before a contract has been signed), you must enter the partial waiver using the Waiver function. In this case, you cannot generate the waiver as part of payoff processing.
The partial waiver must not be greater than the available disbursement obligation determined for the due date. You can only carry out one partial waiver a day.
In the IMG activity Define Condition Groups
In the IMG activity Define Condition Types, you define the condition type required for partial waivers, and assign it to the flow category "KAMI: Capital reduction".
The Inclusive indicator for the payoff due date controls whether the payoff due date itself is included in the interest calculation. If this indicator is set, the payoff only reduces the interest calculation capital after the payoff due date. If this indicator is not set, the payoff already reduces the interest calculation capital on the payoff due date.
The Month-End indicator for the payoff due date controls whether the payoff due date is taken to be the end of the month for the cash flow calculation. If there is no month-end, the system automatically removes the month-end indicator and issues a warning message.
Note the combined effect of the inclusive indicator, the month-end indicator and the interest calculation method.
If you select the Regular Payments indicator, routine payments that have the same payment date as the payoff payment date (such as repayments) are included in the receivables list.
Select a Factory Calendar for shifting the payoff payment date to a working day.
In the IMG activity Define Template you can define default proposals for the month-end indicator, the regular payments and the factory calendar.
The Payment Date field automatically defaults to the due date. The payoff payment date is the date on which the gross payoff amount is to be paid by the payer. The payment date does not affect the capital amounts.
In the IMG activity Define General Control Data, you have the option of setting a Payment Date Adjustment indicator. If this indicator is set, and you make a change to the due date without changing the payment date at the same time, the system automatically transfers the payoff due date to the payment date.
The Deferral from date is the date from which payments are deferred to the payoff due date without charge. This function determines all the condition-based planned records with payment dates that are the same as or later than the specified deferral date, but earlier than the payoff payment date. The payment dates for these flows are shifted to the payoff payment date. For consistency reasons, planned records from other business operations cannot be deferred automatically, and must be shifted manually.
In the IMG activity Define General Control Data, you must activate the deferral function for each company code and product type (Def. Active indicator) to enable entries in the Deferral from field in the application.
You can define a default proposal for the Repayment Settlement field in the IMG activity Define Template.
The system determines Repayment amount not settled in contract currency for the payoff due date and displays it for information purposes.
If the payoff function is being used for a loan based on the actual principle (in which the annuity payment instalment stays the same), you can simulate full clearing of the payoff flows by an incoming payment by selecting the field Full Clearing.
In annuity and instalment loans you can use the Repayment Change Indicator, which you could select from the Key Data tab page, to change the conditions in the context of a partial payoff.
When you activate or post the payoff, the system reduces the term of the loan and automatically saves the new term end date in the condition header of the contract on the Conditions: Basic Data tab.
When you activate or post the payoff, the system reduces the payment instalment, whereby the term of the loan stays the same. The new payment instalment is automatically saved in the condition items for the contract. The condition items are also assigned the new Effective from date that specifies the next repayment calculation period.
When you activate the payoff, the system reduces the term of the loan. In this case, the new term end date is not saved in the condition header of the contract.
On the Details tab, you can enter the Effective from date, the Repayment rate in percent, the Payment instalment and the amount for the Calculation basis manually. You cannot enter an Effective from date that is earlier than the payoff due date.
You can define a default value for the Repayment Change indicator in the IMG activity Define Template. If necessary, you can change this default proposal when you enter a payoff in the application.
Each time you change the payoff due date (Due on) during the fixed period, the system automatically adjusts the annuity repayment condition in accordance with the Repayment Change indicator. If the payoff due date, and therefore the start of the repayment period following the due date, falls outside the fixed period, the subsequent conditions are not adjusted automatically.
If you make a repayment change for a partial payoff, a traffic light icon indicates whether there is a repayment clash.
In addition, the system displays other data relating to the repayment change, such as the repayment rate and payment instalment.
By pressing Choose details, you can display information data for the corresponding condition type on the