Navigation:  Loan Screens > Account Information Screen Group > Precomputed Loans Screen > Options field group > Days After Maturity to CIB Acct

Entry: User, numeric

F/M: Yes

Mnemonic: LN78DM

Screen: Loans > Account Information > Precomputed Loans screen

 

Once the precomputed loan reaches the maturity date and still has an outstanding balance, use this field to establish the number of days after maturity when the precomputed loan should be converted to an interest-bearing loan. Once the loan has been converted to an interest-bearing loan, you can choose to charge off some or all of the loan.

 

You can convert a precomputed loan to an interest-bearing loan in either of the following places in CIM GOLD:

 

•Loans > Account Adjustment, then click <Convert to Interest Bearing>

•Loans > Transactions > Charge Off Transactions screen, Convert Precomputed to Simple tab

•Loans > Transactions > CP2 screen, then click <Run PC2IBTransaction>

 

For more information, see section 35.2, Convert Precomputed to Daily Simple Interest, in DocsOnWeb.