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Financial Settlement Of One Subject Of A Multi Object Contract

Description applies only to contracts with Financing with Services=N and multiple object contracts.

The financial settlement of one object of multiple object contracts is a specific team that in the FIV must take into account the balance of the principal not from the contract but from the given object.

The procedure for the user to create such an FIV will be as follows:

  • Creates a financial settlement from the contract

    •  Note: this financial settlement is created by default for the contract.

  • In the given financial settlement, the user turns the Contract Settlement Type to Partial

  • Then selects the course number for which he wants to create an FIV

  • Presses a new button Object settlement – the function to FIV fills in the balance of the object principal and calculates the FIV. The functionality is described below.

Button Object Leveling (ENG: Object Settlement) located on the Financial Settlement tab, Process section (where the Update button is).

  • The button will only be active if the Contract Type = Multiple Subject, otherwise not.

When pressed, the system performs the following steps:

  • Check Contract Settlement Type=Partial:

    • If not, it will display an error message and stop the process. On Contract Settlement Type=Full, this button cannot be used.

    • If it applies, it continues.

  • Creates a row in the Fin. Object Principal Remaining (4026682) table on the Fin. Object Principal Remaining (4026682) page. The table can currently be opened from the Object Principal Remaining List or Object Card (Navigation/Object Principal Balances), a new record is created using the New Record button on the Fin. Object Principal Remaining (4026682) page.

  • After creating a record, it takes the value of the Object Principal Remaining field (37) and adds it to the field Outstanding Principal (165) on the financial settlement.

  • Updates the financial settlement fields, except for the addition of the Outstanding Principal value.

The Object Principal Balances button (to Related) has also been added to the Financial Settlement card. The button will be active only if the Contract Type = Multiple Subject, otherwise not. When pressed, the system opens the Fin. Object Principal Remaining (4026682) overview with a filter for the object number from the financial settlement.