Loan Screens > Payoff Screen > Balances tab > Payoff Fields field group

Entry: System, date

F/M: No

Mnemonic: PODATE

Screen: Loans > Payoff > Balances tab

If the loan is already closed and paid off, this field displays the date the loan was paid off. If the loan account is open, this field defaults to the current date. This field is updated when the payoff is processed on the Post Payoff tab. A payoff correction code 588 will delete information from this field.

Backdating a Payoff

You can backdate a loan, but it is recommended that a loan only be backdated by six days or less.

To backdate a payoff:

1.Select the backdate from the Effective Payoff Date field and click <Recalc>. The backdated date you selected will appear in this field.

2.Click the <Lock> button. The customer account is now locked for payoff.

3.Access the Post Payoff tab and enter the payoff amount in either the Cash In or Check In fields.

4.Click <Post>. GOLDTeller will launch with the payoff transaction displayed.

5.Change the As of Date on that transaction to the same date you entered in the Effective Payoff Date field.

6.Click <Transmit>. The loan will be paid and closed, and the date in this field will reflect the backdated date. This date also appears on the Loans > Account Information > Account Detail screen.

Institution Option CLZB automatically closes zero balance payment method 5 loans. At the time the loan is closed, this date is also updated. The close transaction is a file maintenance tran code 22 to field 999 performed in GOLDTeller. The loan will automatically close on the night of the maturity date. If the maturity date is on a weekend or holiday, the loan will close on the night of the first business day following the maturity date.