Configuring Loan Category Codes
Loan Category Definition
Access this screen by selecting Tool #458: Loan Category Configuration (maintenance) and Tool #953: View Loan Category Configuration (inquiry).
This is the first of several screens used to define loan categories. A loan category defines the type of loan and how it will be handled by the system. The majority of loan attributes come directly from the loan category configuration, and all loans using a common category will be handled similarly by the system.
Enter an existing category code or enter a new 2-digit number in the Category Code field and use Enter to proceed to the next screen.
Any number not already assigned to another category may be used; category numbers do not need to be in sequence. The category “99” is typically reserved for written-off loans. The written-off loan category for each Corporate ID is specified using Chart of Accounts Maintenance.
IMPORTANT:Since the first loan category configuration screen requires you to enter a valid range of account type suffixes, these must be configured before any category codes are created. This is done using Tool #105: Account Suffix Configuration. Click here for more information.