Write-Off Operation

The "Write-Off" operation is performed to write off one type of amount under the contract. To write off multiple types of amounts, you need to perform several operations for each type of amount. Let's consider an example: it was decided to write off the Penalty on Principal and Penalty on Interest from the contract balance. To create an operation, you need to go to the contract, navigate to the "Financial Information" tab, and click the "Adjustments" button.

On the page, you need to select the "Write-Off Operation" button. When you click the button, fields that are required for filling will appear.

Amount Type – select the required type of amount to write off (penalty, interest, principal, etc.);

Payment - from the dropdown menu select "empty";

Operation Date – payment date, there should be no sequence violation;

Amount - payment amount;

"Off-balance" - no, if the amount will be off-balance – then check the box.

Here you can also see available tranches according to the Contract terms. To select tranche dates, you need to click "+" next to the required dates.

In the movements section, you need to fill in the sign and amount fields; Click "Create Operation"; Next, you will see information about a successfully completed operation or a warning about the inability to perform the operation.

In case you are making an adjustment and the amount needs to be written off not from 1 tranche, but more, you need to click the "Recalculate" button and the system will distribute this amount across tranches.

Then click "Create Operation".