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Walk-in Payment
Click this radio button on the Mass Loan Payments screen to process a Walk-In Payment transaction (tran code 2600-5). See the main screen help for more information about processing transactions on this screen.
This transaction works like a regular payment (tran code 600) and follows the same rules.
The Walk-in Payment transaction box displays the following fields:
Account Number
Transaction Amount
Check In
Check In Number
As of Date
Cash In
Y/N Field 1 (You should change this field description to "Assess NSF Fee.")
The history description for this transaction is "Walk-in Payment."
This transaction can be used with the CP2 Transaction Processing Rules screen (function 803/804) in GOLD Services (Application 8). Also
see the CP2 Transaction (tran code 2600-00) description on DocsOnWeb.
If the amount of credit insurance refunds and/or pre-computed interest refund is enough to pay off a loan, the message "REFUNDS COULD CLOSE LOAN/SEE PAYOFF" will be displayed when any of the following transactions are processed:
•CP2 Transaction (tran code 2600-00)
•Insurance Payment (tran code 2600-01)
•Collection Payment (tran code 2600-02)
•Interest-Only Payment (tran code 2600-03)
•Mail-In Payment (tran code 2600-04)
•Walk-In Payment (tran code 2600-05)
•Regular Payment with CP2 Eligibility Test (tran code 2600-07)
•No Advance Payment (tran code 2600-09)
Be aware that these refunds may not in themselves be enough to pay off the loan; it may require a portion of the payment that is being posted.
Example:
The loan balance is $100.00, and the principal and interest is $75.00. The refund equals $40.00.
As you attempt to post the loan payment, the system will return with the following message: "REFUNDS COULD CLOSE LOAN/SEE PAYOFF."
You would then process a payoff transaction, which reduces the principal balance by $40.00, and then use a portion of the $75.00 to apply toward the remaining payoff amount. You would then refund the difference to the customer.