Navigation:  Loan Screens > Payoff Screen > Balances tab > Partial Payments

Entry: System, numeric

F/M: No

Mnemonic: POPRTL

Screen: Loans > Payoff > Balances tab

 

This field displays partial payments made on the loan. This amount is subtracted from the payoff Amount when the payoff is processed.

 

This field is not file maintainable. Funds are credited to partial payments by a teller transaction and remain there until another teller transaction is processed to debit partial payments and relocate the funds elsewhere (usually as a payment).

 

This field is generally used by the collection department if less than a full payment has been collected. Once the remaining portion of the payment is received, those funds post to this fields before the full payment amount is debited from this field and credited as payment.

 

Funds in this field are not automatically applied as a payment by the system. The Partial Payment Report (FPSRP198) and the Loan Warning Report (FPSRP083) identify accounts that have partial payment funds. Bill and receipt statements subtract the partial payment amounts for the total due.