Backdated payments for flexible AMZ based loan contracts

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Backdated payments for flexible AMZ based loan contracts

When you create a backdated payment for a flexible AMZ based loan contract, the system ensures that the transaction date is earlier or same as the system date. This date is stored in the Transaction Creation Date in the loan payment transaction. The IOA Generation Status, field on the loan contract remains pending till the next SOD job run, after which it is updated to Successful and normal bills and LPTs are generated as usual. 

For information on applying backdated payments to an AMZ based loan, and its impact on other transactions, refer to section Creating a Backdated Payment Transaction.

If you are upgrading to CL Loan 2.5012 or later, you must add these fields to the layouts:

  • Add Transaction Creation Date field to the Loan Payment Transaction Layout of the Loan Payment Transaction object.
  • Add IOA Generation Status field to the Amortization Based Loan Layout page layout of the CL Contract object.

Recommended layout

Loan Contract layout

Loan Payment Transaction page layout