Configurable billing cycle

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.

To enable the new behavior, update the value of the "FinancialCalculatorVersion" org parameter to "3". Refer to the Modify Org Parameters procedure for steps to do this.

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 Modify the Page Layout procedure for steps to do this.

Recommended layout

The Payment Frequency Cycle field is placed below the Payment Frequency field in the Contract section.