Develop/ Proffer an accounting solution for some custom requirements

I am running a credit facility business where I facilitate financing for people purchasing (tangible) products...essentially, things start to get interesting due to the fact that I'm providing this facility to local and international clients who are purchasing assets locally. As multiple currencies are involved (USD, EUR, GBP, CAD), interest rates and repayment terms are applied differently. Doing this manually has proven very tedious and I think it is time to automate the process.

I have outlined some of the major functionalities of what I want the accounting solution to be able to deliver below;

1. creation of currency profile with the respective interest rates and repayment tenure (e.g. USD=9% (int) and 18months, GBP=6% (int) and 14 months, CAD=10% (int) and 20month)

2. creation of clients and allocation of different currencies (USD/GBP...)

3. ability to revise interest rate directly on client's record and apply interest rate manually

4. automatic penalty for those who

i. do not pay on time. Penalty will be calculated by multiplying a flat fee by the number of days of default

ii. those who pay less than the monthly repayment plan. Penalty will be a longer repayment period and a flat fee...something like that

5. system should compensate early repayment and those who may in larger amount than their monthly repayment amount. Compensation will be a reduction in interest..

6. generate client statements (monthly or anytime)

7. be able to run periodic backup

Accounting Bookkeeping Finance Financial Research MYOB

Project ID: #15445731

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