Adjust Contract Balance

Access

Use this routine to increase or decrease the balance of an installment contract and allocate it to the area you specify, such as principal, insurance, or interest. When you make an adjustment, you can view the activity in View Contract Postings.  

ContractThe contract number displays here.

CommentsClicking the actions button at this field brings up the Text Entry Screen where you can enter comments pertaining to the contract.

Comments are required when adjusting a contract balance.

Current BalanceThe current balance of the installment contract displays here.

Adjustment ofThe sum of the adjustment amount(s) entered in the grid below displays in this field.  Once a value has been entered in the Adjustment column of the grid, this field calculates.

New BalanceThe new balance amount after adjustments have been made displays here.  Once a value has been entered in the Adjustment column of the grid, this field will calculate.