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Account Maintenance Charge

Former Member
0 Kudos

Hi there,

I have a requirement related to Account Maintenance Charge. The requirement reads: If the monthly balance on Customer's Current Account falls below RMB 50000, Account Maintenance Charge of RMB10 should be charged. No charge will be applicable for Account balance above RMB 50000. The charge to be applied monthly and settled quarterly.

Steps Taken:

- Created a Financial Condtion for Account Maintenance Charge under Condition Group type Settlement: Current Account. (Refer to the attached image)

- Maintained Settlement settings for Quarterly.

Issue:

Once I run the settlement, the charge is applied only for one month, instead of 3 months.

Thanks in advance,

Regards,

Amit

5 REPLIES 5

Former Member
0 Kudos

Hi Amit,

Did you tried settling the contract on monthly basis? Please change settlement to monthly and run three settlement. In first two , it should not settle the charge but in the third , it should post the total charges for three months.

Please update . I am also looking further into this meanwhile.

Regards
RK

0 Kudos

Thanks for looking into it Ravi.

I tried the above mentioned and it settles the charge in the 1st month and there is no charge in the other 2 months. over and above that it is taking transaction (Cash Deposit in this instance) as the base for calculating charges instead of the balance.

Thanks & regards,

Amit

0 Kudos

Hi Amit,

OK . Can you please confirm if the condition is tagged to Settlement Category or transaction Category?

I tried configuring the scenario but my sandbox was not available for some tech reasons . I will check again tonight and if it is available , I will try configuring the same and let you know the details

0 Kudos

The Condition is tagged to Settlement Category.

Former Member
0 Kudos

Hi Amit,

I tried to replicate same scenario and Account maintenance charge was getting settled every month

Please make the below settings and try

In SPRO- Product Management- Financial Condition-Define Condition Type

Please do not make any settings other than Amount Category. There should not be any differentiation category.

At Financial Condition Level :-

Charge Calculation Method:- Select Subperiod W/O Month end prorate/full

Use Period Calendar Month

Calculation Period Calendar Month

nd Calculation Basis as TOTAL TOTAL BALANCE PERIOD BALANCE

nd balance of basis as Period Balance

Please let me know if you face any issue after this.