Teller System > Transactions > Loan Transactions > Loan Transaction Codes > Tran Code 2510-08, Partial Repossessed Write-off

This transaction reduces the principal balance by the amount of the transaction. It is used when you are writing off only a portion of the actual principal balance rather than the full principal balance. For example, if you needed to reduce the principal balance to the current fair market value of the loan, $3,000.00, and your loan balance was $3,200, you would run the transaction for $200, leaving a principal balance of $3,000.

This transaction reduces the principal balance (tran code 510) by the amount of the transaction by journal and offsets the amount with a General Ledger debit (tran code 1800). The General Ledger number is pulled from the Write-Off – Repo field (LY account 21) on the GOLD Services > General Ledger > G/L Account By Loan Type screen. The system will verify that the G/L account exists prior to running the transaction.

The history description for this transaction is "Prtl Repo W/Off."

This transaction updates the Partial Write-Off field and the Daily Statistics Report (FPSRP210 and FPSRP211).

The Partial Repossessed Write-Off transaction box displays the following fields:

Account Number

Transaction Amount

As Of Date

Correction Box