Loan Write Off

Introduced in Version 13

Loan Write Off is used to write off the pending principal amount against a loan in order to close the loan.

To access the Loan Write Off list, go to:

Home > Loan Management > Disbursement and Repayment > Loan Write Off

1. Prerequisites

Before creating a Loan Write Off, you must create the following first:

• Loan

2. How to create a Loan Write Off

1. Go to the Loan Write Off list, click on New.
2. Select the Loan for which the principal amount has to be written off. The Applicant Type and Applicant will be fetched from the Loan.
3. Enter Posting Date.
4. Select the Write Off Account.
5. Enter the write off amount.
6. Click "Save" to save the transaction
7. Click "Submit" to submit the Loan Write Off entry.

3. Features

3.1 Write off principal amount against a loan

Loan Write Off allows you to write off any bad debts against a loan and request loan closure.