Reverse Loan Payment

These steps explain how to reverse a loan payment the following day in cases of returned checks or NSF (insufficient funds) ACH drafts.

NOTE: These instructions should be used for reversing prior day activity only.

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

  2. Enter the account number and loan suffix on the Member Account Adjustment pop-up.

  3. Click the forward arrow.

  4. Enter "95" (Debit/Reverse Payment) in the first row of the Type column on the Member Account Adjustment screen.

  5. Enter the total amount of the payment being reversed in the Amount column.

  6. Enter a transaction description in the Description column.

  7. In the Interest column, enter the interest amount that was posted with the payment.

  8. Enter the appropriate GL account number in the GL # column.

  9. Enter "1" for the branch in the Location column.

  10. Click Post.

Learn More

Learn more about reversing transactions same day.

Learn more about the Member Account Adjustment (Full) tool.