Billing Cycle

A bill is generated for every payment that is due. 

You can now customize payment frequencies with the configurable billing cycle while creating a loan contract. The CL Loan user interface behavior is modified to display the Payment Frequency Cycle field when you select the payment frequency as Daily, Weekly, or Monthly.

The CL Contract Details page displays the custom "Payment Frequency Cycle" that you specify. If this field is not displayed by default, edit the CL Contract object's page layout and add it under the Contract section. Refer to the Modifying the Page Layout procedure for steps to do this.

The following graph depicts, how the bill is generated by the Billing job batch process.