Accrual Codes
The following table is the master list of all possible Accrual Codes available with the Sherman Calculation Engine.
Different elements or attributes, however, will be limited to a subset of these codes. Careful attention must, therefore, be paid to the particular element or attribute in question.
APR Codes's, however, are different from Interest Accrual Codes. APR Codes are conventions for analyzing a loan's finance charge after the loan has been computed. Accrual Codes, on the other hand, are the ways to compute interest charges as a part of computing the loan before an APR can be assessed.
| Accrual Code | Description | PmtAccrual |
|---|---|---|
| default | Keep previous method. Original default is 201 - UnitPeriod/360 Simple | |
| 100 | UnitPeriod/Federal Calendar Actuarial | |
| 101 | UnitPeriod/Toyota Motor Credit Actuarial | |
| 201 | UnitPeriod/360 Simple | X |
| 202 | UnitPeriod/365 Simple | X |
| 203 | UnitPeriod/DaysPerPeriod Simple (e.g. 91 for quarterly payment frequencies) | X |
| 204 | UnitPeriod True360/360 Simple | X |
| 205 | UnitPeriod True360/365 Simple | X |
| 206 | UnitPeriod True360/DaysPerPeriod Simple (e.g. 91 for quarterly payment frequencies) | X |
| 207 | UnitPeriod/Federal Calendar Simple | |
| 208 | UnitPeriod/365.25 Simple | |
| 209 | UnitPeriod True360/365.25 Simple | |
| 210 | Actual/360 Simple | X |
| 211 | True365/360 Simple | X |
| 220 | Actual/365 Simple | X |
| 221 | True365/365 Simple | X |
| 230 | Actual/Actual Simple | X |
| 231 | Midnight 366 Simple | X |
| 240 | Actual/365.25 Simple | |
| 250 | UnitPeriod/VarDPY Simple | X |
| 301 | UnitPeriod/360 US Rule | X |
| 302 | UnitPeriod/365 US Rule | X |
| 303 | UnitPeriod/DaysPerPeriod US Rule (e.g. 91 for quarterly payment frequencies) | X |
| 304 | UnitPeriod True360/360 US Rule | X |
| 305 | UnitPeriod True360/365 US Rule | X |
| 306 | UnitPeriod True360/DaysPerPeriod US Rule (e.g. 91 for quarterly payment frequencies) | X |
| 307 | UnitPeriod/Federal Calendar US Rule | |
| 308 | UnitPeriod/365.25 US Rule | |
| 309 | UnitPeriod True360/365.25 US Rule | |
| 310 | Actual/360 US Rule | X |
| 311 | True365/360 US Rule | X |
| 320 | Actual/365 US Rule | X |
| 321 | True365/365 US Rule | X |
| 330 | Actual/Actual US Rule | X |
| 331 | Midnight 366 US Rule | X |
| 340 | Actual/365.25 US Rule | X |
| 350 | UnitPeriod/VarDPY US Rule | X |
| 401 | UnitPeriod/360 Add-On | |
| 402 | UnitPeriod/365 Add-On | v |
| 403 | UnitPeriod/DaysPerPeriod Add-On (e.g. 91 for quarterly payment frequencies) | |
| 404 | True360/360 Add-On | |
| 405 | True360/365 Add-On | |
| 406 | True360/DaysPerPeriod Add-On (e.g. 91 for quarterly payment frequencies) |
Table 13.3: Loan Builder Accrual Codes and Descriptions