Decrease Loan Interest Due

These steps explain how to manually decrease the interest due on a loan.  

1. Launch Tool #492 Member Account Adjustment (Full).

2. Enter the loan account base and suffix in the Member Account Adjustment pop-up.

3. Click the forward arrow.

4. Enter 82 (credit balance only) in the Type field on the Member Account Adjustment screen.

5. In the Amount field, enter the full amount of the insurance adjustment.

6. In the Description field, enter a description to describe the adjustment transaction.

7. In the Interest field, enter the portion of the adjustment amount that should be applied against accrued interest due.

8. In the Offset G/L # field, enter the G/L account number that will be offset by the adjustment.

9. In the Offset Branch field, enter the branch number (if your credit union uses branch level accounting) that will be offset by the adjustment.

10. Click the forward arrow.

    • This will update the status after the correction so you can review the changes prior to posting.

11. Click Post.