Loan write-off

The loan write-off is a feature for managing loan-related debts. The write-off is used when the loan repayments collection is not possible due to some reason. For example:

• Bankruptcy,

• Customer death,

• Unrecoverable insolvency,

• Fraud.

In this case, banks decide to write-off the loans that are not possible to recover and collect. Sometimes the write-off is used when the remaining loan amount is small or the bank does not have the right to collect due to the court decisions.

Create loan write-off

1. Find the loan contract in question.

2. Click the Contract number to access the loan contract details.

3. From the content menu, click Write-offs.

4. Click the Create write-off button.

5. Fill in the write-off details > Create.

Search loan write-offs

1. Find the loan contract in question.

2. Click the Contract number to access the loan contract details.

3. From the content menu, choose Write-offs.

4. Fill in the search parameters > Search.

5. Click on the Identifier to open the write-off details.

Reverse write-offs

1. Find the write-off in question and make sure that it is in the PROCESSED status.

2. Click the Reverse write-off button.

3. Fill in the Description field > Save.