Support Center

Automatic End of Day Actions

Last Updated: May 19, 2016 02:36PM CEST

End of Day actions in Mambu

At the end of each day at midnight, your organisation's time, Mambu automatically performs some operations to ensure all account states, days in arrears, penalties and fees are up to date in accordance to the transactions posted so far.

 

Automatic actions occurring at midnight:

  • Set loans to Arrears if there was one repayment due on that day which hasn't been entered.
  • Set Overdraft accounts to Arrears
  • Add one more day to the Days in Arrears count to the loans which were already late
  • Apply penalties and late repayment fees to loans in arrears, if these options have been defined under the Loan Product
  • Apply automated fees and penalties for Deposit accounts
  • Calculate and apply the interest accrued until that day all accounts for which interest accrued is applicable
  • Transfers from deposits to loans on linked accounts if there is a repayment due
  • Update Historical Analysis reports
  • Log end of period accounting closures if specified
  • Update loans' due amounts
  • Change interest rates and taxes if there are any defined for that date, and update accounts based on that
  • Update the overdue, due and upcoming tasks
  • Log Index Interest Rate transaction
  • Close the accounts according to Dormancy period settings 
  • Send notifications that depend on certain account state changes, due dates etc; such as a Repayment Due or In Arrears 


 SMS notifications are not sent at midnight, but at 9 am (your organization's time) .

Manual End of Day Processing

 

Mambu also allows manually executing the End of Day processes,  instead of having it run automatically every night. Manual execution guarantees that Mambu will not run account appraisals every night, but it will still take the regular database backups every night. Note that End of Day process need to be run before closing accounting books, to make sure that all the accounts are up to date.

This option can be enabled upon request to Mambu support.

 

 

 

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