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APF Repayment
Transaction IATSET
This transaction settles an existing approved payable finance contract for the funded invoice/invoices. It is possible to settle the invoices partially or for the full amount. The user could select the invoice/invoices for which he would like to do the repayment.
The buyer (invoiced/financed party) is debited with the repaid amount and the finance account of the invoiced party is credited. If the finance has reached its maturity, any outstanding interest/fees for the contract will be settled.
In case of a partial repayment of the finance, the following options are available via the combobox “Interest option”.
- Settle until today - This is the default setting and the only available option in case of a complete repayment. The interest is calculated until the current date (today).
- Settle at due date - Interest will only be calculated, if the due date has been reached. If the due date has not been reached yet, only the “Amount Repaid” will be booked out.
The contract is not closed if it is a partial repayment. Only when all the invoices of the contract are fully repaid, the contract will be closed.
Since partial repayment is not a generic approved payable finance functionality, if the user requires to make a partial repayment, they have to manually apportion the repayment amount to the selected invoice/invoices in the “Liability” panel. If there is a difference in the amount between “Amount repaid” and the total of “Booking amount” from the “Liability” panel, system will throw an error that the amounts are unequal.
Based on the payment amount, the invoice/document status will also be updated accordingly in the “Finance Base Document” panel. If full payment is made, the invoice/document status will be updated a “Closed”. However, if payment is partial, the invoice/document status will be updated as “Partially paid”.
Requirements
An existing Approved Payable Finance contract which is open and not closed.
For incoming allNETT / RIVO messages see Overview of Incoming messages - allNETT / RIVO.
Transaction Control
Fees
In the event of repayment, the liability fee/commission which are not yet settled for the selected invoice/invoices are transferred to the “Settlement” Panel and set to “Settle immediately”. Pending fee for the unselected invoice/invoices have to be handled in their respective repayment transactions.
The sum of all the liability fee/fees listed in the “Settlement” panel will be displayed in the “APF Commission” field on the “Settle” panel for easy reference of pending liability commission for the selected invoice/invoices.
Commissions
Results of this Transaction
Diaries
For more information see TRNDIA Diaries.
| Action | Description | Diary | Follow-up Transaction | Comment |
|---|---|---|---|---|
| Replace | Repayment of <Type of Advance> | 3 working days after due date | APF Repayment | for partial repayment |
| Completed | The diaries “Loan overdue” and “Unfunded Payment” which have been created in APF Funding will be set to done when the contract is closed. |
Updating/Storing of Amounts (CBS)
Liability (LIA)
The current liability for the selected invoice/invoices are reduced by the repaid amount.
Outgoing Correspondence
Details on creation of messages can be found under DOCEOT Messages. For outgoing allNETT / RIVO messages see Overview of Outgoing messages - allNETT / RIVO.
| Name of Message | Receiver | Message ID | SWIFT | TCO | DTA/DTE | Comment |
|---|---|---|---|---|---|---|
| Repayment / Settlement Notice | Buyer | IATBUY1 |
Release
Transaction Panels
Settle
Finance Base Documents
Liability
Settlement Details
Settlement
Bookings
Cash Cover
Completion
Incoming Tag 72/79
Messages
Compliance
Attachments
Overview
Interest Details
DTAEA Fields
DTALC Fields
Fee Conditions
DTAG Fields
Settle
Datafields
| Datafield | Description |
|---|---|
| External Key | cf Appendix A, Table USR field EXTKEY |
| Update Finance Base Documents | cf Appendix A, Table IAD field NONINVFLG |
| Currency | cf Appendix A, Table CBB field CUR |
| Maximum Amount | cf Appendix A, Table CBB field AMT |
| Early Settlement Discount Amount | cf Appendix A, Table IAD field ESDAMT |
| Early Settlement Discount Percent | cf Appendix A, Table IAD field ESDPRC |
| Opening Date | cf Appendix A, Table IAD field OPNDAT |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Address Block | cf Appendix A, Table PTS field ADRBLK |
| Reference for Address (Optional) | cf Appendix A, Table PTS field REF |
| External Key | cf Appendix A, Table PTS field EXTKEY |
| Name | cf Appendix A, Table PTS field NAM |
| Open Amount | cf Appendix A, Table CBB field AMT |
| Document Amount to be settled | The document is reduced by the reduction amount. |
| Close Contract | Checking this box closes the current contract. |
Finance Base Documents
Datafields
| Datafield | Description |
|---|---|
| Name | cf Appendix A, Table PTS field NAM |
| Name | cf Appendix A, Table PTS field NAM |
| Currency | cf Appendix A, Table CBB field CUR |
| Amount | cf Appendix A, Table CBB field AMT |
Compliance
Overview
Datafields
| Datafield | Description |
|---|---|
| External Supplier Account | cf Appendix A, Table IAD field XSAEXTKEY |
| Name | cf Appendix A, Table ACT field NAM |
| External Buyer Account | cf Appendix A, Table IAD field LOAEXTKEY |
| Name | cf Appendix A, Table ACT field NAM |
Interest Details
DTAG Fields
