Repayment Allocation Order
For cases of prepayments, partial repayments or fees and penalties payment, the allocation order defined at the product level will determine what will be paid first.
Suppose you wanted the principal to be paid first, then interest, fees and finally penalties. In this case Principal would be on top of the list and Penalties on the bottom.
To move the items, just click, drag and then drop them at the right place.
Repayments Schedule Editing
Products using the Fixed methodology have the additional flexibility of editing the repayment schedules of each account individually. This could be used for different purposes such as to adjust due dates, apply or wave out fees and penalties and reallocate balances.
To allow repayment schedules to be edited at the account level, check the options that apply.