How to Make an Interest Accrual Adjustment on a Daily Simple Interest Loan
In some cases when the Daily Interest was or is accruing at the incorrect rate, you may need to adjust the Accrual Balance either in a negative or positive amount.
- Select Customer Service
- Select Other
- Select Accrued Interest
- Enter the amount that needs to be added or removed under the field Accrual Adjustment
- Select ok
Note: You will see the adjustment after you have run the end of day process.
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