Field Name

Purpose\Usage

Paid in Full Tolerance

Enter the amount at which an Loan/Receivable will be considered ‘paid in full’.  The Batch Satisfaction process will make transfer entries between Principle and Interest to settle when the Loan/Receivable balance falls within +/- this amount.

Payment Tolerance

Enter the amount an individual payment may fall short yet reflect the Loan/Receivable as current.  No financial adjustment is made and the unpaid amount is billed with the next invoice.

NSF Fee

Enter the amount of charge for a check returned for Non-sufficient Funds.

Payment Bank Account

Select from the GL list, the payment offset bank account (cash clearing)

Apply Overpayment To Principle

Yes:  Reduces Principal Balance and applies toward current installment.

No:  Excess payment will not reduce principal balance until the time the overpayment applies toward future installment(s).

Use Weighted Average to Allocate Payment

Option is applicable ONLY when an applied payment exceeds the current amount due.

Advance Due Date Only 1 Month Past current

Option is applicable ONLY in the instance of Overpayments/Advance Payments.  Loan/Receivables with ‘future’ Due Dates past current will not receive billing notices.