Loans Paid Ahead Utility

This application identifies accounts that are paid a certain number of days in the future and inactivate future dated receivables in the payment sequence that have a status of Active or Partially Paid. Partially Paid (PPD) receivables will have their status changed to Paid (PD) and Active (ACT) receivables will have their status changed to Inactive (IACT). Additionally, the Next Payment to be billed will be rolled back based on the due day of the account and the payment frequency to a date not as far into the future. This new date will be calculated based on account level information and a value in a parameter.

This batch application has the option to read an input file of loan account numbers for processing.

This batch application has the option to produce notices if needed.

Benefits

The Loans Paid Ahead Utility application restarts your institution's cash flow by resetting paid ahead loans back to a current date. The reset loan will create new receivables that will in turn restart your cash flow.