GOLD Services Screens > General Ledger Screen Group > GL Account By Loan Type Screen

Entry: System, numeric

F/M: No

Mnemonic: N/A

Screen: Loans > System Setup Screen > G/L Account By Loan Type screen

Normally an income statement account, this G/L account is used during the Payoff transaction (tran code 580) and Pay-to-Zero (tran code 830) transactions to process underpayments and no check overpayments.

Underpayment - An underpayment situation exists when a payment received is less than the actual payoff or pay to zero amount but within the allowable threshold that would pay off or pay the loan to zero. If the amount of the loan payoff or pay to zero minus the payment received is less than or equal to the maximum underpayment amount (as defined in institution option MAUP- Maximum Underpayment Amount for Payoff), the system will post a G/L Credit Correction (tran code 1810 correction) by Journal In, Check In, or Cash In to debit this G/L with a description of "Underpayment."

No Check Overpayment - An overpayment situation exists when a payment exceeds the amount of the payoff or pay to zero. If the payment amount minus the loan payoff or pay to zero amount is less than the minimum overpayment check amount (as defined in institution option OVCK - Minimum Check Amount for Overpayment), the system will post a G/L Credit (tran code 1810) by Journal In, Check In, or Cash In to this G/L account with a description of "No Check Overpayment."