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Product Category Installment Loans (360) (New) ( RELNBANK_CML_600_INSTALL )

Product Category Installment Loans (360) (New) ( RELNBANK_CML_600_INSTALL )

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Product Category Installment Loans (360) (New)

Use

As of SAP ECC Enterprise Extension Financial Services 6.0 (EA FS 600) you can use the new product category Installment Loans (360) when processing loans in Loans Management. Loans Management supports the key functions in the life cycle of an installment loan.

The product category installment loan (360) is used for loans that finance consumer goods, for example, but can also be used to finance capital goods. Some important functions for installment loans are:

  • Predefined products
  • Insurance
  • Billing
  • Payment using lockbox procedure possible
  • Enhanced incoming payment distribution

Interest can be calculated according to two principles for the product category Installment Loans (360).

  • Incoming payment principle
The system clears incoming payments to the day, therefore the system calculates and clears the accrued interest up to the payment date when an incoming payment is received. The remainder of the incoming payment amount is used as repayment (of principal).
  • Payment plan principle
The system clears incoming payments on the planned due dates.
Note
You can select the payment plan principle. The use of the payment plan principle can only be released after consulting with SAP, however.

For more information about the different products that can be represented in the system, see Products and Conditions for Installment Loans (New).

Many of the existing functions in Loans Management, such as those in position management and accounting, are available for installment loans. Moreover, there are new and enhanced functions, which are available solely for the servicing of installment loans.

  • New Business -> Edit Installment Loan
For more information, see Editing Installment Loans (New).
  • Position Management -> Business Operations

Existing functions for the Workplace for Business Operations have been enhanced so each of they can be used for the product category Installment Loans (360).
  • Single Postings

  • Borrower Change

  • Waivers / Write-Offs

  • Position Management -> Periodic Processing
  • Give Notice on Expired Insurance Policies

  • Compare Payment Plans for Insurance Policies

  • Disburse Insurance Premiums

For more information, see Insurance for Installment Loans (New).
  • Update of Planned Records in Loans from Worklist

  • Create Bills

  • Create Auto Debit Files

  • Customer-Specific Creation of Auto Debit Files

  • Create Stop File for Lockbox Procedure

For more information, see Extended Incoming Payment Distribution for Installment Loans (New) and Billing for Installment Loans (New).
  • Create Annual Interest Statement

For more information, see Annual Interest Statements for Installment Loans (New).
  • Accounting
  • Create PPO Error Messages for Overpayment

For more information, see Default Processing for Installment Loans (New).
  • Current Settings -> Installment Loans
  • Products and Conditions

  • Condition Table

  • Edit Condition Assignments

For more information, see Products and Conditions for Installment Loans (New).
  • Field Selection Control

For more information, see Field Selection Control for Installment Loans (New).
  • Current Settings -> Stop Administration
For more information, see Stops Management for Installment Loans (New).

Effects on Existing Data

Effects on Data Transfer

Effects on System Administration

Effects on Customizing

You need to have completed the following IMG activities in the Customizing settings for Loans Management:

  • In the IMG activity Define Product Types you must create at least one product type which is based on the product category installment loans (360).

You will find more information on the effects on Customizing in the release information for each subfunction.

Further Information

More information is available in the documentation for the individual IMG activities, and in the SAP Library: Financials -> SAP Banking -> Loans Management -> New Business -> Installment Loans.






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