Financial Covenants - Covenant Rules

Covenant Rules panel allows you to define rules based on financial parameters to identify risks and set up alerts. You can receive alerts about potential issues, based on the defined threshold values, and generate automatic updates on actual vs. threshold values. The details included are:

• Item: Displays the item for which you are adding the rule.
• Party: Displays the party concerned.
• Formula: Displays the formula for financial covenants, i.e., Greater Than, Less Than, Greater Than Equal To, or Less Than Equal To. Formulas are to be defined to calculate Actual values.
• Period Ended: Displays the period when the rule ends for an item.
• Period Due: Displays the due days.
• No Reminder Date: Displays the date after which no date is to be collected for that rule.
• Stipulated Value: Displays the Stipulated Value against which the financials shall be measured.

To modify a rule, follow the below steps:

1. Click on Add Rule button in the top right corner of the panel.

2. The field is activated. Update the details and click on Check () button to save the details.

3. To edit a rule, click on Edit ()icon in the Action Column. Update the details and click Check () button to save.

4. To delete a rule, click on Delete () icon in the Action Column. The delete window is displayed. Click OK to delete the rule.

5. Click on the Assign Task () button in the Action column.

Select the Type, i.e. Contact or Groups. Select the concerned Group or Contact from the list.  Enter the task reminder, i.e. One Week Before Due Date, Due Date, One Week After Due Date. Click on Save.