Loan Screens > Account Information Screen Group > Account Detail Screen > Account tab > Payment and Classification field group

Entry: User, checkbox

F/M: Yes

Mnemonic: LNEPMT

Screen: Loans > Account Information > Account Detail > Account tab

Checkmark this box if you want this loan to roll the due date when the amount of payment equals the Next Payment Due amount or more. For example, if a payment due is $100 and late charges of $40 are also due, but the customer brings in a payment of $100, the due date will still roll, even though the full amount of $140 has not been paid. If the Entire Payment Rolls Due Date box is not checked, then the payment would not cause the due date to roll, because the loan payment of $100 plus the late charges of $40 would require the customer to pay $140 before rolling the due date. Instead, the system would place the $100 payment in the Applied To Payment field and the due date would not roll until another payment was made in the amount of the Next Payment Due, any Late Charges, minus the amount in the Applied To Payment.

Note: Late charges, fees, etc. are only included as part of the payment if the Late Charges, Loan Fees, etc. boxes are checked in the Payment Application field.

The system also determines whether a payment is counted as full and thereby rolls the due date based on the Next Payment Due, as well as what is entered in the Roll Due Date Within field. For example, if the Next Payment Due amount is $200, and the Roll Due Date Within amount is $10, and a customer brings in a payment for $190, the Due Date will roll to the next date, as $190 plus $10 equals the full payment.

Note: Miscellaneous loan fees are not included in the full payment calculation.

If only a partial payment is made, the due date is not rolled and the amount of the partial payment is displayed in the Applied To Payment field.

Note: The amount of late charges paid in one payment or cycle cannot exceed one P/I Constant.