Teller System > Transactions > Loan Transactions > Loan Transaction Codes

This transaction reverses the charge off by removing the information in the fields mentioned in the Charge-off transaction section (tran code 2022-01) and replacing the General Category with one that you select that is not an 80, 82, 83, 84, 86, 87, 88, or 89. This transaction also reverses all history and reclassifies fees to the general category entered.

This transaction also performs account reclassification of the loan amounts in the General Ledger. Posting field numbers L-104 (principal charge-off/recovery), L-204 (principal charge-off contra), L-105 (interest recoveries), and L-205 (interest charge-off contra) allow you to further refine the posting to the General Ledger.

Transaction code 136 (Charge-Off Summary transaction) launches once a Charge-Off transaction has been run. The 136 transaction provides a summary of the charge off. The following fields are displayed as part of the Charge-Off Summary: charge-off balance, total of income fees, total of non-income fees, and total of insurance premium, tax, and surcharge refunds.

This transaction does not, however, reverse the loan back to a precomputed loan once it's been converted to an interest-bearing loan, as described in the Charge-Off description.

Note: In order to run the Reverse Charge-Off transaction, the Charge-Off history must be the last history on the account. If any file maintenance or monetary transactions have been processed on the account after the Charge-Off transaction, the charge-off reversal must be processed manually.

Maintenance Fees and associated fee dates for Alabama (MRMCOD = 01, 02, 03, 04, or 05) will be reinstated to what they were at the time of the original charge-off.

An institution option (OP21 ACOS) is available that, when set, allows this transaction, as well as the Charge-Off transaction (tran code 2022-01) to be run on investor sold loans (LNISLD is greater than zero).