The number of days covered by a particular Billing Cycle is based upon the cycle's Start Day, the Run Date, and the presence of any other Billing Cycles.
In the example below, the institution has only one Billing Cycle. When a job based upon this Billing Cycle is run on 04/01/2001, it will retrieve all borrowers/loans that have a Payment Due Date that occurs between May 1st and May31st (inclusive); basically, all loans due in May.
In the following example, the institution has four Billing Cycles. When a job based upon any of these Billing Cycles is run, it will retrieve all borrowers/loans that have a Payment Due Date that occurs the following month on or after the cycle's Start Day, up to the day prior to the next cycle's Start Day.
Example:
|
Cycle Name |
Payment Due Date Start |
Payment Due Date End |
|
Cycle A |
05/01/2001 |
05/07/2001 |
|
Cycle B |
05/08/2001 |
05/15/2001 |
|
Cycle C |
05/16/2001 |
05/22/2001 |
|
Cycle D |
05/23/2001 |
05/31/2001 |