Defer the Interest Accrual for a Loan

Defer the Interest Accrual for a Loan

You would like to know how to defer the interest accrual for a loan.
To defer the interest accrual:
  1. Select System administration > Company table > Loan control.
  2. Select the number of days in the Defer Accrual after days().
If the Defer Accrual After (days) is set to 90, then after 90 days it will stop accruing to the loan and starts to defer accrual. When the loan reaches 90 days delinquent, it stops adding on interest, but defers interest. It means that the deferred interest amount can be later paid by the customer (usually after payoff).

ArticleNumber:

000049053

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