Average Balances tab |
  
|
Navigation: Loans > Loan Screens > Account Information Screen Group > Account Detail Screen > Statistics tab >
Average Balances tab |
|
The Average Balance record consists of approximately 350 fields. Most of these fields are not displayed on a screen but can be accessed through GOLDWriter. The field mnemonics begin with AV.
Each night in the afterhours process, the interest accrued and daily interest accrual are calculated and displayed on the Interest Detail tab in the Interest Accrued to Today and the Per Diem fields.
At monthend, the system reads history for the month, looking for credits or debits to fees, late charges, principal balance, and the LIP disbursed balance. It then recalculates the year-to-date figures, and that information is displayed on the screen. The system also looks for changes to the loan rate, the LIP rate, or the ARM rate. It determines when the rate was changed and how many days the rate was in effect and recalculates the year-to-date figures, and that information is displayed on the screen.
At year-end, the system moves all fields from the current year and the previous year to the prior two years’ columns and deletes the oldest. The fields for the current year will then be blank and ready for the new year.
The system stops the daily updating for the interest accrued and daily interest accrual the day the loan is paid off or service released or when the general category is changed to 80-89. At the end of that month, it will calculate the averages, and no additional updates to the screen will be made.
Information is only gathered from the start date and is not recalculated for prior years. Therefore, data for years prior to the start date will not be displayed.
Backdating of Payments
If any backdated payments are found with As of dates (on the transaction) within the same month, the daily principal balance is adjusted back to the As of date. If the As of date is in a previous month, the daily principal balance is only adjusted back to the first of the current month.
|
Note: The Average Balances Report (FPSRP177) must be set up to run daily and CYC31B (monthend). These reports cause the calculations and updating to occur. They are not hard-copy reports. |
|---|
Loans > Account Information > Account Detail > Statistics Tab, Average Balances Tab
See the following links for additional information concerning fields on this tab:
Year-to-Date Information field group
Daily & Lifetime Information field group
