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In this session we are looking at the performing of Loan Installments.

In the example that we see here, we can see that on this particular Loan, the Installment is $1,000.

So, when we perform Installments, then for all the Loans that we select, (in the perform step) the System is going to check which of these loans are Active and where an Installment is still due, the System will perform the Loan Installment transaction.

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Because these are Smart Loans and it is possible to have different Interest Rates connected, to the Capital en the Current Portions of the Loan, therefore the transaction Date is, or may be fairly important in terms of the Installment, because the Installment transaction is going to reduce the Capital Balance and increase the Current Balance.

If the Interest rate on these 2 portions of the Loan is exactly the same, then the Transaction Date is not all that relevant. .

In this particular case, we are going to choose a Transaction date for the End of the Month.

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The “Description” that we use here, is not the Installment Transaction Description.

Rather it is the Perform Action Description, so that when we look up the various instances of Performing Loan Installments, then we can recognize this particular run.

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The Data Selector that we apply is quite important because this determines whether we are selecting from ALL the Loans or only certain of the Loans.

In other words, the Data Selector that we apply is going to determine what choices we can make in terms of which Loans will be selected for Processing.

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The Period that we post to is of course quite relevant as well.

Now in my example I am using a Transaction Date of 29 February, but I record it as a March Installment, because I am posting to the Period, March 2008, which effectively means that this Installment is due on the 1^st of the Month. I could also use a Transaction Date of the 1^st of March and that would still be the same.

I could also say that the Installment is actually due at the end of the month and in that case, possibly I would have used the Period 85, which would be February 2008.

Now there is also the “Auto Main Adjust” where we can choose Yes or No.

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This Option is an advanced Option. It means that when we say “Yes” here, then if a Capital portion of a Loan should go into Credit, because of the Loan Installment Transaction, then the System will reset that to Zero, by transferring the appropriate amount back from the current or Arrears portion into the Capital portion.

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So this is now where the Data Selector comes into play and I have the opportunity to select only particular Loans of the specific Selection Flag or Loan Type etc, but I am leaving the Wild Cards as is, i.e. I will be selecting the entire Loans portfolio.

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We can of course Query any Installment Run to see when it was performed and by whom.

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If we should want to, we can also run the Installment transactions Report to see what Installment Transactions the System has generated.

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In this case I know that the Transactions I am interested in, were posted into Period 86, which is March 2008.

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Because I have performed the run on the 29^th of February as the Transaction Date, I am changing for inclusion of that date. I also change the Date type, from the Processing Date to the Transaction Date to ensure that the Transactions can be correctly selected.

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My Report includes a number of Installment Transactions that have been generated.