Write Off
Once the Loan Application is approved you will get all the details as below,
Click on Write-Off tab. It specifies that a client’s loan will be written off by the bank. The loan account will be automatically closed once the loan has been written off.
- Write off on (*) – Select the Write Off date
- Amount – Specify the amount you want to Write-Off
- Write off Reason (*) – Choose the reason from drop-down ( You can add your reason in the Admin ->> System ->> Manage Codes ->> Search for WriteOffReasons ->> Add Code Values)
- Note – Specify if you want to add any notes for your future reference
Now you can see the amount you have entered is Written-Off in the Personal Loan Form.