Operations Documentation
RICHOUX &
ASSOCIATES,
INC.
OPERATIONS DOCUMENTATION
Date 8 October 2013
System FINCO
Document FIN-0092 How To Net Down and Re-age a Customer Account
No.
Operation To complete the net down and/or re-age process on a customer’s account.
Long To rebate a customer’s account and/or post a repossession payment on a
Description ledger card so that the next due date does not advance when posted.
Section 1: To net down (rebate interest and any insurances) the customer’s
account.
Section 2: To re-age the customer’s account.
Operation Section 1: To net down (rebate interest and insurances) the customer’s
Steps account.
1. From the Main Menu choose option 2 – Payments, option 2 – Loan
Payoff.
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2. Enter the customer’s name, loan number or social security number.
Press the Enter key. See Figure 1 below.
Figure 1
3. In the Change date: field type the date with a four digit year format
then press the Enter key. Note: If the message ? Date out of valid
range is displayed then the date field does not have a four digit year
format. (Ex: change 100813 to 10082013).
4. If prompted, in the Refinance account (Y/N)? N prompt press the
Enter key to accept the default, not to refinance the account.
5. In the Unpaid late chgs: field type 0.00 then press the Enter key.
Note: If the message WARNING: Late charge assessment report
not run is displayed, disregard due to the fact that the late charges are
zeroed out anyway.
6. Press the Enter key beside all rebate fields to accept the interest and
insurance rebate or refund amounts.
7. In the Amount of payment: field type 0.00 then press the Enter key.
The How paid? PO field will be displayed.
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8. Type the cashier initials then press the Enter key. See Figure 2 below.
Figure 2
9. Press Y to print on ledger card. Press Y to print a receipt.
Section 2: To re-age the customer’s account.
1. From the Main Menu choose option 8 – File Maintenance, option 4 –
Customer Maintenance, option 2 – Modify.
2. Enter the customer’s name, loan number or social security number.
See Figure 1 below.
Figure 1
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3. Press the Page Down key to obtain the second page. See Figure 2
below.
Figure 2
4. Modify the NEXT DUE: date field to the date that the next payment
was due before the account was netted down then press the Enter key.
Ex in Figure 2 above: change 091513 to 07052013.
5. Modify the LAST PAYMT: date field to the date that the last
payment was made before the account was netted down then press the
Enter key. Ex in Figure 2 above: change 10/08/2013 to 06102013.
6. Press the Page Down key to obtain the third page. See Figure 3
below.
Figure 3
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7. Modify the ADD BACKS: field:
If ADD BACKS: field: contains 0.00 amount:
a. Type the total rebates amount (obtained in Step 6 of Section
1) as a negative number then press the Enter key.
Ex: - 84.67
b. Press the Enter key again to accept the message,
‘WARNING: Input value less than 0.’ See Figure 4
below.
Figure 4
If ADD BACKS: field: contains a negative amount:
a. Type the sum of the negative amount (obtained from ADD
BACKS: field) plus the total rebates negative amount
(obtained in Step 6 of Section 1) as a negative number
then press the Enter key. Ex: - 24.36 + - 84.67 = - 109.03
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b. Press the Enter key again to accept the message,
‘WARNING: Input value less than 0.’ See Figure 5
below.
Figure 5
If ADD BACKS: field: contains a positive amount:
a. Type the difference of the positive amount (obtained from
ADD BACKS: field) and the total rebates negative amount
(obtained in Step 6 of Section 1) as a negative or positive
number depending on which is the greater amount, then
press the Enter key. Ex: +24.36 minus - 84.67 = - 60.31
b. Press the Enter key again to accept the message,
‘WARNING: Input value less than 0’ if displayed.
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