Navigation:  Loan Screens > Account Information Screen Group > Precomputed Loans Screen > Amortization of Interest to G/L field group > Unearned Interest

Entry: System, numeric

F/M: No

Mnemonic: LN78CG

Screen: Loans > Account Information > Precomputed Loans screen

 

This is a system-entered field, but can be file maintained if needed (in very rare occasions). It is calculated by subtracting the Earned Interest amount from the Original Unearned Interest amount. This is the amount of interest that has yet to be earned on this precomputed loan when borrowers make monthly loan payments to principal and interest.

 

Institution Option: An option is available that when set, finalizes the General Ledger Unearned Interest at payoff instead of waiting until monthend. If you would like this option set, contact your GOLDPoint Systems client solutions specialist. The option is named FOPT GLFL (Use G/L Finalization).