Increase Loan Interest Due

These steps explain how to manually increase 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 92 (debit balance only) in the Type field on the Member Account Adjustment screen.

5. Enter the full amount of the insurance adjustment in the Amount field.

6. Enter a description to describe the adjustment transaction in the Description field.

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

11. Click Post.