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Payoff for Installment Loans (Enhanced) ( RELNBANK_CML_600_PO_IL )

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Payoff for Installment Loans (Enhanced)

Use

As of SAP ECC Enterprise Extension Financial Services 6.0 (EA FS 600) you can use the enhanced Payoff function in the Workplace for Business Operations to process full payoffs for loans from the product category Installment Loans (360).

A loan officer usually responds to a request from a borrower by creating a payoff quote for a loan. As soon as the corresponding payment has been made by the borrower, the system converts the incoming payment into a regular payoff within the functions for Extended Incoming Payment Distribution and posts the payoff.
If the system cannot create a payoff within extended incoming payment distribution because an error has occurred, you can process the payoff manually using the function in the Workplace for Business Operations. This means that the loan officer creates the requested payoff manually and posts it. This may be the case, for example, if the borrower has sent a payoff amount that is less than the amount required as per the payoff quote, and this amount falls under the tolerance limits that have been set up for the product.

For more information about the new functions for loans belonging to the product category Installment Loans (360), see Product Category Installment Loans (360) (New).

Effects on Existing Data

Effects on Data Transfer

Effects on System Administration

Effects on Customizing

To be able to use this function you need to have executed the following IMG activities:

• Define Product Types

• Define Flow Types

• Assign Offsetting Flow

• Define Account Determination (in the Functions section)

• Define Condition Groups

• Set Payment Lock in Lock Management

• Define Cash Flow Behavior

• Define Templates

As of SAP ECC Enterprise Extension Financial Services 6.0 (EA-FS 600) the following points apply to loans in the product category Installment Loans:

• You can only enter templates for full payoffs.

• You need to define the communication status of the loan. You use the communication status to determine whether or not a business operation Payoff can be subsequently changed.

• Define General Control Data (in the Payoff section)

As of SAP ECC Enterprise Extension Financial Services 6.0 (EA-FS 600) you can define whether you can use stops to restrict specific business operations or functions, such as disbursement or dunning of loans, in loans from the product category Installment Loans.

For more information about stops, see Stops Management for Installment Loans (New).

• Define Payoff Reasons

• Define Flow Type Groups for Receivables List

• Define Subcategories for Receivables List

• Define Communication Status

• BAdI: Interface for Determining Remittance Code

You can you can output the remittance codes and remittance code descriptions, to which the borrower has to send the gross payoff amount for a payoff, in plain text, and adjust them to suit the requirements of your organization.

Correspondence

If you want to use the correspondence function within the payoff function, you need to have completed the IMG activities in the section Correspondence with Correspondence Tool (SAP Smart Forms) in Customizing.

In the IMG activity Define External Flow Types, you need to have replaced the flow types relevant for the payoff, such as processing charges, with external flow types, and left the Report Categoryfield empty.

Further Information

For more information, see the documentation for the individual IMG activities, and in the SAP Library under Financials -> SAP Banking -> Loans Management -> Position Management -> Business Operations -> Payoff or Payoff for Installment Loans.

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Length: 5999 Date: 20240426 Time: 055749     sap01-206 ( 89 ms )