In this newsletter:
1. Delfin Upgrade V8.61
2. New Affordability
3. Interest Calculations available in Delfin
4. NuPay – Integration Shift Rule
5. Delfin Debit Order deduction dates in December
Delfin Upgrade V8.61
We have a new Delfin version available, V 8.61. Please click on the link below to download it, once it has
downloaded please give our Support Desk a call on 087 351 5171 and they will assist you in updating your
Delfin. Please read the attached Upgrade Change Log to read about the fixes and changes in this version.
The New Affordability in Delfin now includes options where you can choose to average each item over 3
months or just one month. You are able to put the Income over 3 months and have the expenses over 1
month. You can now add notes into the Affordability which will print out. If you need assistance, please
contact our Support Desk.
Interest Calculations available in Delfin
Delfin offers different interest calculation types in order to cater for the needs of our clients – including
clients in different countries.
Please read through this carefully and choose the interest calculation that best suits your business as well
as the current legislation in the country your business operates from.
According to our interpretation of the National Credit Act, we recommend “Credit Law Reduced
Capital” interest rate calculation type for offices in South Africa.
The interest calculation is set up in the Delfin/Webfin Set Up under LOAN TYPES:
It is important to set the Interest Rate (and all other fees) for each loan type your office uses. Select the
loan type from the LOAN TYPE LIST and then on the right hand side under LOAN TYPE DEFINITION move
down to INTEREST RATES. Select from drop down box on CALCULATION TYPE:
The following options are available and are explained further below:
CREDIT LAW (REDUCED CAPITAL)
The different interest calculations are as follows:
This interest calculation type is for offices outside of South African borders. The interest is calculated as a
flat rate on a monthly basis.
This interest calculation type is for offices outside of South African borders. The interest is calculated on a
flat rate on the outstanding capital balance (as the capital reduces the interest is charged on the reduced
balance), although the Delfin/Webfin will ensure the instalments are split evenly over the term of the loan.
The interest is calculated per day for the first month; thereafter it is calculated in 30 day increments. If
the interest is set to charge at 5% per month, then the interest will calculate at 0.1667 % per day for the
first 30 days, and thereafter in 30 day increments and not per day. Eg:
25 day loan : Interest charged on 25 days
32 day loan : Interest charged on 30 days
62 day loan : Interest charged on 60 days
The interest is calculated on a daily rate. If the interest is set to charge 5% per month, then it will
calculate the actual number of days of the loan and calculate interest for each day. Eg:
25 day loan : Interest charged on 25 days
32 day loan : Interest charged on 32 days
62 day loan : Interest charged on 62 days
CREDIT LAW REDUCED CAPITAL:
The interest is calculated on a daily rate on a reduced capital balance. If the interest is set to charge 5%
per month, then it will calculate the actual number of days of the loan and calculate interest for each day.
On loans with more than one instalment, it will calculate interest on the outstanding capital (as the capital
reduces the interest is charged on the reduced balance) although Delfin/Webfin will ensure the instalments
are split evenly over the term of the loan. This loan types works on an Amortization schedule – which
means that each payment is allocated in certain percentages to capital, interest, initiation fee, Vat etc…
during the duration of the loan.
According to our interpretation of the National Credit Act, we recommend Credit Law Reduced
Capital for offices in South Africa.
NuPay – Integration Shift Rule
What is the Shift Rule?
This is the rule that is applied when the clients pay-date falls on a weekend.
Delfin/Webfin sends an instruction to NuPay when you create a new loan, allowing NuPay to move the
date of collection accordingly. Please look at the screen shots below to ensure you are familiar with the
settings that will influence the instruction passed on to NuPay.
Herewith the settings that need to change in order to have the WEEKEND-1 Rule active.
Firstly, ensure that Delfin/Webfin is set to Saturday is not a non working day. See screenshot:
Ensure that all clients are on the paydate shift rule : “BEFORE WEEKEND”
Note there are 3 Options, namely:
1. NO SHIFT
1. NO SHIFT will not shift the Clients’ instalment date. So, if the instalment date falls on a Sunday
the instalment will still be set to a Sunday on Delfin/Webfin.
2. BEFORE WEEKEND
1. BEFORE WEEKEND will shift the Clients’ instalment date to before weekends. So, if the
installment date should fall on a Sunday, Delfin/Webfin will shift the instalment date to the
3. AFTER WEEKEND
1. AFTER WEEKEND will shift the Clients’ instalment date to after weekends. So, if the instalment
date falls on a Sunday, Delfin will shift the instalment to the following Monday.
The WEEKEND-1 Rule, requires Delfin/Webfin to be on “BEFORE WEEKEND”
To activate the integration for the WEEKEND-1 to function correctly, you will need to change Delfin/Webfin
to see Saturdays as “non-working days”. This is done in the Delfin/Webfin Set Up.
Follow these steps to deactivate the setting:
1. Top left hand corner click on “Application” (By default the General>Control tab will be open).
2. Under the General>Control tab, select the Loan Instalments option and “expand it” (Click on the
3. Expand the Dates sub-option.
4. Ensure that the “Is Saturday a normal working day” option has a “X” and not a tick mark.
If you would like to confirm that all the clients have been changed correctly, please contact our Support
This should be done for all clients using the NuPay integration.
Delfin Debit Order Deduction Dates in December 2015
Please take note of the following deduction dates in December:
· Debit orders for the 25th will be deducted on the 18th of Dec 2015.
· Debit orders for the 31st will be deducted as per normal.
· Debit orders for the 1st will move to the 4th as well as the NLR deductions.
We would like to wish all of our clients and their families a happy and safe festive season. We look forward
to being of service to you in the new year.
Please note the sales department will be closed from 24 December to 1 January 2015. Our Support Desk
will only be closed on the South African public holidays.