Calculate/Post Adjustment for Delinquent Loans (1)

Screen ID:

Screen Title:

Panel Number:

TLNDLQA-01

Calculate/Post Adjustment for Delinquent Loans

3988

Access this screen by selecting Tool #179: Calc/Post Adjustment for Delq Loans.

Now a time-consuming monthly chore is more comprehensive, more precise, and more consistent...it’s now also as fast as pushing a few buttons. No more custom Queries or reports, no more complicated spreadsheets to calculate the amounts, no more manually typing what can potentially be hundreds of individual G/L entries.

In a nutshell, this tool automates the process of calculating and posting journal entries to account for interest due that is likely to be unpaid (loans more than 3 months past due). You can choose whether to post detailed entries to each individual income G/L according to loan category, or to a single designated income account, with an offset to a designated accrual G/L. Entries can be posted consolidated into one branch location or by member branch. And yes, we’ll even prepare the reversing entry for you. All you have to do is post!

First you will need to select the settings to determine which loans are included in the adjustment (delinquency date range and category), whether to post journal entries by individual branches or a single branch, whether to post the entries by category or G/L, and which offset G/L to post the adjustments to. Enter your criteria and press Enter to move to the next screen to review the adjustments.

The flexibility of this selection screen allows you to run this adjustment process more than one time, for example for different General Ledger accounts.

Enter your criteria on this screen, then press Enter to move to the next screen listing the entries.

Field Descriptions

Field Name	Description
Month/year to process	Select the month/year of the loans to be included.
Calculate the adjustment for loans more than X days delinquent	Select the days delinquent for loans to be included in the adjustment. Ninety days is entered by default. Interest on loans delinquent greater than or equal to the calculated # of days is included in the adjustment.
Loan categories to include	Select the loan categories to include in the adjustment. Use the Select button to select specific categories to select. This will reveal a screen allowing you to select the Categories. (Hold down the Ctrl key to select multiple categories.) Use the Select key to return to the first screen. The adjustment screen will then record the number of categories selected. NOTE: Suspended and written-off categories will appear in this listing. Written-off loans will not be included in the adjustment.
Post journal entries	Select to post the journal entries: By member branch location: This selection will post separate adjustment entries by branch. This selection assists you to calculate changes to separate G/Ls at separate branches. All to branch location: (This selection will reveal a Branch # field to enter the specific branch – will default to Branch 00). Use this selection to make adjustments for the General Ledger of a single branch.
Post adjusting entries to income	Select from the following: Separate by loan category: This allows you to make individual adjustments for each loan category. To a single G/L account: This selection will reveal a field to enter the single G/L account that the adjustments will be made to.
Offset G/L account (contra accrued interest)	Enter the Offset G/L to receive the adjusted interest amount.