Loans > Loan Screens > Payoff Screen

This help page explains institution options pertaining to customer account Payoffs.

•To use the payoff feature, Institution Option CLZB must be enabled and function 78 must be set to “daily.” WARNING: When this institution option is first enabled, any loan accounts with maturity dates in the past will automatically close.

•Institution Option POPD allows the amount in the Per Diem field (and the online payoff letter) to display three decimals (as opposed to two). Event letters do not use this option.

•Institution Option CKPO changes the default for Reserve 1 and Reserve 2 to not subtract the reserves from the payoff (NA–not applied). You are allowed to change the NA to PO (applied to payoff) on a loan.

•Institution Option I1DY allows your institution to pay interest through the payoff date (instead of up to it).

•Institution Option SPNR prohibits tellers from processing a loan Payoff transaction (tran code 580) for a non-renewal loan before the loan’s payoff date.

•Institution Option DPON makes the payoff Expire Date the current date. The Expire Date field will no longer be available for file maintenance. This option also makes the system purge all payoff records each night. Note: The system will not drop payoff records with legal holds (Hold Codes 4, 5, 6, 7, 9, 27, or 86).

•Institution Option CLZB automatically closes zero balance payment method 5 loans.

Receipt Options

There are two available institution options pertaining to payoff receipts.

Institution Option ONPG allows all receipts to be printed on a single page.

Institution option SPOR allows your institution to print a single payoff receipt showing all important amount fields. The single receipt can be divided in two separate prints (one for the customer, one for your institution). When this option is enabled, Institution Option ONPG must be disabled.The following fields can be printed on a payoff receipt:

Field	Description
Payoff Amount	The amount that was entered when the payoff transaction was run. This is the amount the customer actually paid.
Amount to Principal	The amount used to pay off the principal balance of the loan.
Amount to Interest	The amount used to pay off interest on the loan.
Amount to Reserve	The amount credited or debited from the loan.
Amount to Late Charges	The amount used to pay off any late charges on the loan.
Amount to Fees	The amount used to pay off any fees on the loan.
Total Amount to Credits	The total amount of any miscellaneous credits applied to the loan.
Total Amount to Debits	The total amount of any miscellaneous debits applied to the loan.

Payoff Options

Payoff Options