An account is automatically paid off or marked for payoff processing by the system with a batch transaction when the account balance is $0.00. You can also manually payoff an account with the Maintenance screen. You can also pay off an account using the Consumer Lending (Advance and Payment) form. For more information, see the Advances and Payments sections in Batch Transaction chapter in Servicing user guide.

When you payoff an account, the system changes the account’s status to PAID OFF. The date the account was paid off appears in Activities section’s Paid Off Dt field on Account Details screen.

The system also notes the amount of the principal that was waived when account was paid off in the Waived column on Account Balances screen.

If you reverse the payoff payment using Customer Service form, then the pay-off is automatically reversed. The system changes the account’s status from PAID OFF to ACTIVE when you refresh the account.