Loan Interest Charging

Support ›› Manual ›› Credit Management ›› Operations ›› Recurring Procedures ››

Use this sub-module to charge Interest on the Loan Products (Addition of unpaid interest on a loan to its principal balance)

To access this window, click :Credit Management- > Operations - > Recurring Procedures - > Loan Interest Charging.

The following screen will open up :

Loan Interest Charging Fig 1.

On the above screen :

Posting Period - Select the correct posting period by clicking on the posting period look up icon and picking the correct one.

Month - Select the appropriate month for which the capitalization is to be effected from the drop down menu :

Loan Interest Charging Fig 2

Priority - Select the relevant recovery priority from the drop down menu :

Loan Interest Charging Fig 3

Capitalization Filter - Select the appropriate capitalization filter from the drop down menu :

Loan Interest Charging Fig 4

NOTE: Depending on the selected capitalization filter - either employer, customer or credit type - the first tab (circled in red below) will always display the specific one selected.

See below :

Loan Interest Charging Fig 5

NOTE: For the customer capitalization filter, an additional field - Capitalization Months - will be displayed.

Set the appropriate number of months for which capitalization will be effected.

For a loan interest to be capitalized, the Interest balance must be equal to zero.

From the above window :

Select the customer whose interests are to be capitalized by checking the check box

against the specific customer.

Select the product whose interest is to be capitalized from the Loan Products tab :

Loan Interest Charging Fig 6

Use the Toggle Selection flag

to select all the loan products(if applicable) for which interests are to be capitalized.

Click on update button to complete the task.

On successful completion you will get a pop up message confirming that the operation was successful.

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