Navigation:  Teller System > Transactions > Loan Transactions > Loan Transaction Codes > Tran Code 2600-45, LOC Card Payments

The LOC Card Payments (tran code 2600-45) transaction allows check and cash transactions on payment method 5 loans with LNCARD = “Y”. This transaction is a modification to Payment with Promos transaction (tran code 2600-25) with the benefit of allowing tellers to input Check In and Cash In amounts.

 

If you want to use this transaction, you will need to add it to the Transaction Menu, as described in the Menu Design topic in the CIM GOLDTeller User’s Guide.

 

 

When the transaction is first downloaded, you will need to edit the transaction design so tellers will understand which fields to use. We suggest making the following changes to this transaction using the Transaction Design screen under Functions > Administrator Options in CIM GOLDTeller:

 

•Change the Loan Descriptor field to a drop-down list. This makes it easy on tellers who may not know what to enter in that field. Only the following descriptor codes are available for this transaction:

o1 (Mail-in Payment)

o2 (Walk-in Payment)

o5 (Payment – Manual Offset)

o10 (Agency Payment)

o14 (3rd Party Payment)

o30 (Garnishment Payment)

 

When viewed in History, the applicable descriptor will show, and the proper General Ledger accounts will be credited/debited through the Autopost process. For more information on how to create drop-down lists, see the Creating a drop-list field topic in the CIM GOLDTeller User’s Guide.

 

•Hide the Source of Funds, Number 1, Journal In, and Journal Reference fields. Those fields really aren’t needed for this transaction. (See Field Properties Screen for more information on how to hide fields on transactions.)

 

Collection Fee

 

You can also hide the Collection Fee Amt field unless you would like to collect fees as part of the transaction. For example, perhaps a third-party, such as a collection agency, sends a check on behalf of the borrower for the payment. Perhaps they charge a $25.00 fee.

 

•You would put the amount of the check in the Check In field, along with the Check In Number. For this example, let's say it's $75.

•You would enter the $25.00 fee amount in the Collection Fee Amt field.

•And you would make sure the Tran Amount is for the Check In + Collection Fee Amt. In this case, $100.

 

After the teller clicks <Send>, the system applies the $75 to the loan account (according to the Payment Application field). And the $25 for the collection fee is debited from the General Ledger account for collection agency fees, as set up in the Collection Fee field on the GOLD Services > General Ledger > G/L Account By Loan Type screen in CIM GOLD.

 

See the following examples of this transaction showing what the transaction looks like when you first access it for your institution, followed by an example of how we suggest you set up the fields in CIM GOLDTeller: