P&I Calculation Algorithm is the Engine

An algorithm plugged into the P&I Calculation plug-in spot on the obligation type is responsible for calculating / forecasting penalty and interest for an obligation.

Note:

Configuration Requirements. The base product P&I calculation algorithm relies on many other algorithms plugged into obligation type for it to work properly. In addition, it expects effective P&I controls with at least one P&I rule to exist for the obligation type. Refer to Setting Up Penalty and Interest for more information.