Payment Effective Date on the DSI Loan is Prior to Another Payment Post

Payment Effective Date on the DSI Loan is Prior to Another Payment Post

While posting a payment on DSI Loans, you receive the following error: Payment Effective Date on the DSI Loan is prior to another payment post.

Workaround:

  1. Go to Payment Processing > Reversal. 
  2. Reverse the last payments for that loan(s). If you’ve made more than one payment then you’ve to make reversals in exact reverse order.
  3. Go to Customer Service > Others > Accrued Interest. 
  4. Check the accrued interest for loans to confirm if they are correct. Note: Your institution would determine what the interest portion and the principal portion should be for the payment that needs to be reapplied for loans.
  5. Manually post Interest-only payment
  6. Post Principal-only payment from Payment Processing Module
  7. Check the accrual balance again. Note: Your institution would determine what the principal balance and interest accruals should be.
  • If the accrual balance is correct but the due date needs to be advanced, you can do that in the Loan Adjustment screen in Customer service.
  • If the accrual is still incorrect after you reapplied the payment, then you can do a loan adjustment for that as well.

ArticleNumber:

000042509