3.6.3 Manage Balances

User can waive the due and undue components of billing accounts and also waive or capitalize the due and undue components of non-billing accounts using the Manage Balances screen.

To manage balances:

Note:

The fields marked as Required are mandatory.

1. On the Homepage, from Retail Lending Services mega menu, under Balances, click Manage Balances. User can also open the screen by specifying Manage Balances in the search icon bar and selecting the screen.
   The Manage Balances screen is displayed.

   Figure 3-97 Manage Balances

   
   

   
   Description of "Figure 3-97 Manage Balances"

   
   
2. Select the appropriate option from the Search by field.
3. Perform the required action, based on the option selected from the Search by field.
   The balance details are displayed.

   Figure 3-98 Balance Details

   
   

   
   Description of "Figure 3-98 Balance Details"

   
   
4. On the Manage Balances screen, specify the fields. For more information on fields, refer to field description table below:

   Table 3-66 Manage Balances – Field Description

   Field	Description
   Search by	Users can search for an account number by using any of the available search criteria. The account number is set as the default search option. Users can specify the account number directly in the adjacent field or search for an account number by clicking the Search icon. Users can also search for the specific account number by providing customer ID, account number, or account name. Other search options available in the Search by field are Customer ID, Tax Identification Number, Mobile Number, and Email. A specific customer ID can be searched by providing the customer name or customer ID. If Tax Identification Number, mobile, or email IDs are chosen to find an account number, the respective IDs have to be input entirely in the adjacent field for the system to display the account number. For a given search criteria, multiple account numbers may be linked. For example, two or more account numbers can be linked to a single mobile number. In such cases, the system displays all the account number matches and the user can select the relevant account number on which to perform a servicing operation. Note: The label of the field adjacent to the Search by field changes dynamically. For example, if the Account number is chosen as the search criteria, the label of the adjacent field is displayed as the Account Number. If Tax Identification Number is chosen as the search criteria, then the adjacent field would display the label as Tax Identification Number.
   Balance details	This section displays the balance details of the selected loan account. The Show Revised Schedule button is enabled, after user clicks the Simulate button next to the Re-computation Basis field. For more information, refer Revised Schedule.
   Value Date	Displays the current system date.
   Select Activity	Select the activity to be performed on the balance amount. The options are: Waive Capitalize Note: This field is displayed only for non-billing loan account.
   Component	Displays the component of loan account.
   Amount Overdue	Displays the total overdue loan amount.
   Amount Not Yet Due	Displays the loan amount that is not due.
   Total Balance	Displays the total of the balance loan amount.
   Full/Partial	Select the option for managing the balance. The options are: Full Partial Note: This field is enabled if the user clicks the Edit icon from the Action field. Also, if the user double clicks this field, the field is enabled.
   Waive Amount	Displays the amount to be waived. Note: This field is displayed if user selects Waive option from the Select Activity field. This field is enabled if user selects Partial option from the Full/Partial field. User can specify the partial amount to be waived in this field.
   Capitalize Amount	Displays the amount to be capitalized. This field is displayed if user selects Capitalize option from the Select Activity field. This field is enabled if user selects Partial option from the Full/Partial field. User can specify the partial amount to be capitalized in this field.
   Action	Displays the following icons: Edit: Click this icon to specify the provision amount for the selected loan account. Save: Click this icon to save the provision amount specified in the Amount field. This icon is displayed only after the user clicks the Edit icon.
   Re-computation Basis	Select the re-computation basis for the balance amount. The options are: Recalculate Term Recalculate Installment Balloon Payment Note: This field is displayed if, For non-billing accounts, if user selects Waive option from the Select Activity field and the partial or full payment is captured for Principal type from the Component field. For non-billing accounts, if user selects Capitalize option from the Select Activity field. For billing account, if waive amount for Principal component is more than the overdue amount.
   Remarks	Specify remarks for managing balance, if any.

   To view the revised schedule:

   1. Select an option from the Re-computation Basis field and click Simulate.

      The Show Revised Schedule button is enabled in the Balance details section.

   2. Click Show Revised Schedule.

      The Revised Schedule section is displayed.

      Figure 3-99 Revised Schedule

      
      Description of "Figure 3-99 Revised Schedule"

      For more information on fields, refer to field description table below:

      Table 3-67 Revised Schedule - Field Description

      Field	Description
      Date	Displays the year and the dates in a year when the arrear is raised. This column lists the years for which the schedule is generated. If you click the Expand icon corresponding to a particular year, the monthly date schedule list for a year displays.
      Rate	Displays the rate of interest.
      Principal	Displays the amount of principal arrears.
      Interest	Displays the amount of interest.
      Fees	Displays the amount of fees.
      Due	Displays the amount due.
      Balance	Displays the balance amount after every installment.

5. Click Submit.
   The screen is successfully submitted for authorization.