Record Instruments Discounting Rates
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This activity allows you to save the rate details for the instruments discounting along with effective from and to date.
Select the “Record Instruments Discounting Rates” activity under the “Bill Discounting” business component.
The “Record Instruments Discounting Rates” page appears.
Enter the following fields:
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Bank Code |
Use the drop-down list box to select the bank code for which the instruments discounting rates are to be specified. The combo is loaded with the bank codes for which discounting limits are specified. |
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Rate Type |
Use the drop-down list box to select the rate type for which the rates are to be specified. The combo is loaded with "Commission” and “Interest” options. |
Enter the following fields:
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Rate |
The rate on the instruments discounting held by the company in its bank account (Decimal). The rate entered in this field must not exceed “100”. Mandatory |
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Effective From |
The date from which the rate is effective (Date Format). Mandatory |
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Effective To |
The date to which the rate is effective (Date Format). |
The system displays the following fields:
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Created By |
The login ID of the user who created the rate details. |
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Created Date |
The date on which the rate details is recorded. |
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Last Modified By |
The login ID of the user who modified the rate details. |
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Last Modified Date |
The date on which the rate details is modified. |
Click the "Save Details" pushbutton to save the Interest and commission rates.
4 Finance book must be defined in the “Create Finance Book” activity of the “Organization Set Up” business component
4 The bank code must be defined in the “Create Bank” activity of the “Bank Cash Definition” business component
4 Account rule definition for the bank code
4 Discounting limits to be specified for the bank code