Dynamic Expressions allow users to define necessary functions with great flexibility quickly. These expressions can be used in the Waterfall tab, or can be seen easily in Reports, thus giving the user quick access to different aspects of the deal at any given time.
See the Dynamic Expression Syntax for specific syntax help.
Dynamic Expression Editor
All creation and editing of a Dynamic Expression will be done through the Dynamic Expressions Editor; they cannot be edited via the external table.
Within the editor users can define the Dynamic Expression when typing in the Editor, the editor will suggest an existing function.
The user can also add a function by searching through the relevant library, which can be built in Dynamic/Structure.
Unit Display
The Dynamic Expressions Editor will allow setting a unit for display within the Reports.
- Within the Dynamic Expressions Editor, the user can determine the Unit for the expression in the top right corner
- The default display is Blank, though users can chose to set a unit for display with the choice of Percentage or Currency
Library
The Built-in Library uses pre-set ready to use parameters from the deal. They are dynamic to accommodate any changes across the deal. Example, the addition of collection accounts, tranches, etc.
The Dynamic Library will display all of the existing dynamic expressions within the deal. The Structured Library will display all user-inputted structured parameters in the deal.
See Structured Parameters page for more information.
Category
Libraries can also be filtered by Categories. Structured Parameters and Dynamic Libraries will display user-defined categories while the Built-in Library has pre-defined categories.
Note: This is a loan based deal presented as an example. If the deal is based on Solar Projects or other assets, the appropriate categories will be populated in the list.
One click on an item in the table will display the description for the function. Double-click will add the function to the editor.
The editor also contains a validation button to verify that the expression is valid before saving. An expression that is not valid cannot be saved. If the formula is invalid, the user will see a red warning.
Dependents
The dependents chart shows which dynamic expressions are dependent or, in other words, use this dynamic expression. This allows the user to know which dynamic expressions will be affected by changes made to this dynamic expression.
In this example, the user is editing “DE 3” and sees that it is being used by “DE 4”
Precedents
The precedents chart presents a visual of which dynamic expressions are used by this dynamic expression, also indirectly.
In this example, the user is editing “DE 3” and sees that it is using “DE 1” and “DE 2”
See Cash Flow Groups page for more information
Best Practices
When defining a Dynamic Expression, always use the same etiquette as when creating variables in a code:
- Use meaningful names
- Utilize the categories for added structure and organization
- Always attach a useful, detailed help description
- Often times, it is a great place to reference the governing document
- Break down complex expression to simple ones for added convenience.
- Only calculate once. For example, you can create a dynamic expression calculating interest due to all tranches, and then simply use this dynamic expression in other expressions when needed
- Use spaces and tabs for visual cleanliness, it will be helpful in case of complex calculations
- Use Structured Parameters when needed See Structured Parameters page for more details.