1. Loan Origination Setup Guide
  2. Product
  3. Contract
  4. Amortized Balances

4.8.3 Amortized Balances

With the Amortize Balances sub screen, you can select one or more balances to be amortized over the life of the Loan. You can also define the amortization method.

To set up the Amortization Balances
  1. Click Setup > Setup > Administration > User > Products > Contract > Loan > Amortized Balances.
  2. In the Amortization Balances section, perform any of the Basic Operations mentioned in Navigation chapter.
    A brief description of the fields is given below:

    Table 4-21 Amortization Balances

    Field Do this
    Amortize Balance Type Select the amortize transaction type from the drop-down list.
    Amortization Method Select the amortization method used to calculate the net amortization amount from the drop-down list.
    Cost/Fee method Select the amortization cost/fee method.
    Sort Specify the sort sequence to define the order of the amortize balances.
    Enabled Check this box to enable the amortize balance to be created when the account is booked and funded.
  3. Perform any of the Basic Actions mentioned in Navigation chapter.

Parent topic: Contract