Page Comparison

On this page, you can configure Seamless to calculate instalment dates from policy start (current default) or from the end date so that the “odd one out” happens to be the first one

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1. Calculate Date Backwards: use to calculate the instalment periods for a given policy period. For instance when you have 122 kr and there are 12 instalments, we will have 2 kr which cannot be equally distributed across all the instalments. This setting will dictate if that 2 kr should go to the first or to the last. If we say Yes to this setting, we will have 2 kr at the end month. Otherwise it will be on the first month

   1. If Yes then the instalment periods will be from start date + 30 days, and the remain value will be go into the last month. For example: 15.01-14.02, 15.02-14.03 ,...,15.12-31.12

   2. If No then the instalment periods will be from start date to the end of the month, even if your start date is the middle of the month. And the remain value will be go into the last month For example: 15.01-31.01, 01.02-28.02, 01.03-31.03 ,...,01.12-31.12

2. Put Residual On Last Payment Instead Of First

3. Preferred collection day - The day on which the instalments due date should fall on each month. Default None means there is no preference. If there is a instalment period, we will setup the due date to be the start date of the instalment period.

   1. For example: 15.01 - 14.02 will have 15th as the due date. However if there is a preferred selection as 1, the due date will be the 1.02

   2. 

4. Collect Adjustments immediately - if The default option is Yes

   1. If this is Yes, we will bundle all payments that are adjusting previously invoice payments and creates a single transaction. This essentially concerns with back dated adjustments of already invoice instalment.

5. Skip Adjustment Bundling - The default option is No. If you chooses Yes

   1. If Yes, then the Collection Adjustments is superseded immediately.

   1. If yes, And it creates a separate adjustment for every adjusted period that has already been processed. Each adjustment transaction created will point to the transaction it is replacing.

   2. If both are 'No' Notice! If Skip Adjustment Bundling and Collect Adjustments immediately are No, there is no special processing for adjusted periods - meaning that they will be handled during normal distribution

6. Adjustment Bundling Threshold In Days - applicable when adjustment instalments are created separately. (By setting SkipAdjustmentBundling as yes). For these instalments that are created, we need to set a due date. We will align this due date with any upcoming instalment within the configured number of days.

   1. For example we are in 27/03 and an adjustment is created for 20.03-14.03. Due date of this will be aligned to the upcoming 15.03-14.04 instalment.

7. Minimum Unit Length In Days - This helps find the minimum no.of days that we should consider as one instalment period.

   1. For instance if you have a policy 25.01 - 31.12, with monthly instalment, should we have an instalment period for 25.01-31.01, 01.02-28.02, 01.03-31.03..... 01.12-31.12.

      1. If this is set to 5 days as an example, then we will have 25.01-31.01, 01.02-28.02, 01.03-31.03..... 01.12-31.12.

      2. If it is set to a standard 15 days or so, we will have 25.01-28.02, 01.03-31.03...., 01.12-31.12

8. Merge Window in Days - Ideally, it should be set to 0 days. When we add some new instalments, or handling adjustments, based on this configuration, we will merge the amount with the next instalment