Holidays and non-working days can define on which days there should be no loan account instalments, this section allows defining organization-wide non-working days, holidays, and what happens when loan schedules are due in a non-working day.
Setting working days defines which days of the week are considered working days, which can affect loan schedules.
To select the non working days, go to Administration - General Settings - Holidays - check the boxes for each non-working day
Holidays are treated by Mambu as a non-working day, the difference is that holidays have specific dates in the year.
To define a new organization-wide holiday
- Add the holiday's name
- Select the date when it occurs
- Choose if it happens every year in the same date or not
Every year you should go through all the holidays that have been checked for the previous year to make sure they are still valid and that the non recurring holidays are deleted or moved to the correct day.