Working Days

This is a crucial step as it will allow you to decide how to manage and deal with repayments that fall on non working days. Here you will be able to select the working and non working days according to your organization or country's policies and regulations.

To select the non working days, just check the boxes on the left side.

So, if regular working days in your organization are from Monday to Friday, you would check the boxes next to Saturday and Sunday, as non working days.

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Add holidays

Being non working days, national and local holidays should also be added as such.
If you click Add Holiday you'll be able to add all the holidays that will affect your organization's working days throughout the year.
To define a new holiday, add the holiday's name > select the date when it occurs > choose if it happens every year in the same day or not > save the holiday.

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.

The new holiday will be added to your organization's calendar in Mambu and considered as a non-working day.

Repayments on non working days

After defining the non working days and holidays you can now decide what happens to loan repayments that fall on these days.
You can move any repayments that fall on non working days to the previous or following working day.
To move a repayment, just check the box next to the option you choose. This will apply to all repayments that are due on a non working day.

Assuming that a regular week would have Saturday and Sunday as non working days, if a client's repayment was due on a Sunday, you would be able to choose whether it would be rescheduled for the previous working day, which would be Friday, to the next working day, which would be Monday in this case, or not rescheduled at all.

When you add a holiday or a non working day after having loan accounts in the system, Mambu will automatically update those repayment schedules taking the new holiday into account.

As an example, suppose your organization defines Saturdays and Sundays as non working days, that the 6th of October (a Thursday) is a holiday, and the repayment date has been fixed in the sixth day of every month. In this case, if you had chosen the option to move the repayments to the next working day, the client's repayment schedule would look like this:

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Define your working days

Add holidays

Repayments on non working days

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