Loan Write Off
Loan Write Off
Introduced in Version 13
To close a debt, a loan write-off is performed to eliminate the remaining principle balance.
Go to: to view the Loan Write Off list.
Home > Loan Management > Disbursement and Repayment > Loan Write Off
1. Prerequisites
You must first create the following before creating a Loan Write Off:
2. How to create a Loan Write Off
Click New in the Loan Write Off list.
Choose the loan whose principal must be wiped off.
The Loan will be queried to retrieve the Applicant Type and Applicant.
Posting Date, please.
the Write Off Account option.
the sum to be written off.
To save the transaction, click "Save."
To submit the Loan Write Off submission, click "Submit."
3. Features
3.1 Write off principal amount against a loan
Loan Write Off enables you to ask for loan closure and wipe off any bad debts incurred against a loan.