3.9.1 Holiday Validation Assumptions

• Automatic schedule movement is applicable only for Payment and Rate Revision schedules across the modules.

Holiday Preference Example

If a MM contract is a comparing two currencies USD and GBP validations, as an addition, the user selects the Currency Holiday under Holiday Check Required section in Holiday Preferences screen and adds the INR as currency to validate, the system validates the same based on the INR holiday calender. As per the validation, if the currency date falls on a holiday the accounting entries or the transaction is done the next working day. If the INR holiday details is not present to validate, the INR validation is discarded by the system and the original validation of the USD and GBP is continued by the system.

Note:

When the Currency Holiday is checked and the currency details is specified, ensure the holiday calender of the specified currency is added.

Also, the decision making is mainly in the contract level and the details on the contract level are defaulted to product level.

If the schedule of a contract falls on a holiday/adhoc holiday the value date of the contract remains same as the holiday date but the transaction date is marked to the previous or the next working day based on the schedule movement set by the user in contract level.