Navigation:  GOLD Services Screens > General Ledger Screen Group > GL Account By Loan Type Screen > Pre-Payment Penalty or Minimum Interest

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). The system will post a G/L Credit (tran code 1810) by Journal In, Check In, or Cash In for the Prepayment Penalty/Minimum Interest amount, if applicable. If there is a prepayment or minimum interest amount owed by the customer at the time of the loan's payoff, the amount will be found on the Adjustments tab of the Loans > Payoff screen during loan payoff.