Navigation:  Teller System > Transactions > Loan Transactions > Loan Transaction Codes > Deferment Transactions > Tran Code 2600-13, Deferment by Code > Processing Fees for Deferments

Some institutions allow processing fees when running deferment transactions on accounts. These processing fees, also known as convenience fees, are not to be confused with the charge amount for deferments. These fees are in addition to that, and normally aren't more than $10.

 

Most institutions that allow processing fees on deferment transactions will run the deferment transaction through the EZPay screen. The processing fee is automatically entered by the system (as set up in options on the EZPay IMAC Table) and displayed in the Fee field on the EZPay screen, as shown below:

 

 

However, if you also want to allow processing fees when the Deferment By Code transaction is run through CIM GOLDTeller, you must first set up the transaction as follows. This will require training your tellers on how to enter the processing fee on tran code 2600-13 and what amount to charge.
 

Note: This will need to be done for every DB4 database used by your institution.

 

•Field Code 138, which is called "Collection Fee Amt" when transaction code 2600-13 is first downloaded, should be renamed to "Processing Fee Amount." See Figure 1 below. This is the field that allows your institution to collect a processing fee for running the deferment transaction. The fee amount is not entered by the system when the Deferment By Code transaction is run from within CIM GOLDTeller. (The amount of the fee is automatically entered when the Deferment by Code transaction is run from within EZPay.) You will need to manually enter the fee amount in the new field within CIM GOLDTeller.

 

•The processing fee is credited to the following G/L account on the GOLD Services > General Ledger > G/L Account By Loan Type screen according to the account’s Loan Type: Deferment Fee (LYGACT_18). Make sure a valid G/L account is entered in that field on that screen.

 

Note: You may not be able to see this field on the transaction until you update your transactions. To update transactions, complete the following steps.

 

1.Select “Update All Transactions” from the Functions > Administrator Options menu in CIM GOLDTeller.

 

2.A message will appear asking you if you are sure you want to update ALL transactions. Click <Yes>.

 

3.Another message will appear letting you know that if a timeout message appears, do not click on it until the update is done. Click <OK> on that message.

 

4.CIM GOLDTeller will update all transactions.

 

5.Once complete, open tran code 2600-13 in the Transaction Design screen (under Functions > Administrator Options), and you should then see the new field.

 

The Deferment fee and charge amount will show in Loans > History and Loan Disclosure History, as shown in Figure 2 below.

 

 

 

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