Process Write Off Function - Fields Description

At this function, user will come across various fields or columns that needs to be maintained with relevant data.

The descriptions of the respective field or column, are as follows:-

Write Off Extraction (Panel)

<Task> Card

This is the respective batch process task card related to the write off process in this function.

The task cards that can be displayed, are as follows:-

  1. New Write Off (Extract Accounts and Batch Generation)

  2. WIP (Edit Accounts in Batch)

  3. Pending Approval (Review to proceed with batch write off)

  4. Submitted Batch (Enquire past 12 months batch record)
Extraction Conditions (Panel)

Extract Lost

This is the most recent date that credit facility accounts have outstanding, that cannot be repaid.

Note: The value of this field is default to the previous month’s end date. However, user can overwrite it.

Account with MIA

This is the number of months in arrears (MIA) in the credit facility accounts; number of months that no repayment have been received into the credit facility account.

Remarks

This is the additional comments concerning the batch accounts created for write off.
Write Off Batch (Panel)

WIP/Pending Approval/Submitted Batch(Last 12 months) (Sub-Panel)

Batch No.

This is the system generated reference number for the respective batch of accounts to be written off.

Status

This is the status of the respective batch of accounts to be written-off.

The options, are as follows:-

  • D - Under Development

  • P - Pending

  • W - Rework

  • A - Active

  • C - Completed

Note: The batch status that can be displayed is workflow-dependent.

Under the following workflows, or task cards, the possible batch statuses that can be displayed. are as follows:-

  • WIP: 'Under Development' or 'Rework'

  • Pending Approval: 'Pending'

  • Submitted Batch: 'Active' or 'Completed'

No of Accounts

This is the number of accounts that has been extracted in the batch to be written off.

Proposed Write Off Amount

This is the total credit facilities' outstanding amount from a batch that can be written off, during the batch extraction time.

Note: This is basically the sum of each of the credit facility account’s gross balance after deducted the unearned interest amount, from the batch.

Remarks

This is the additional comments concerning the batch created for the purpose to write off of a batch of accounts.

Rework Remarks

This is the additional comments concerning the batch that has been reworked.

Create Date

This is the date the batch of accounts to be written off has been created.

Create By

This is the User ID of the user who has created the batch of accounts to be written off.

Rework Update Date

This is the date that the batch of accounts to be written off has been amended.

Rework Comment By

This is the User ID of the user who has make the amendment on the batch of accounts to be written off.

Accounts List (Sub-Panel)

Account No.

This is the system generated unique reference number of the respective credit facility account.

Account Status

This is the status of the credit facility account, e.g., A - Active.

Proposed Write Off Amount

This is a credit facility account’s outstanding amount that can be written off, during batch extraction time.

MIA

This is the number of months in arrears of a credit facility account.

Product

This is the code and description associated with the credit facility product.

Customer Name

This is the customer name of the main-holder of the credit facility.
Add Account (Pop-up window)

Account Information (Panel)

Please Enter Search Value

This is the value to be used to search for the related account record.

Note: If the value inputted into this field is relating to Account No., Name, or ID No., click once on the related Account No., or Name, or ID No button, accordingly.

Account No.

This is the button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Please Enter Search Value' field is relating to existing account number.

Name

This is the button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Please Enter Search Value' field is relating to existing customer names.

ID No.

This is the button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Please Enter Search Value' field is relating to existing Customer IDs.

  • This panel will pop upon the function screen opened, after user has clicked once on the Add button.

  • The purpose of this panel is for user to search for the relevant credit facility account record to be added to the batch of account for write off.
Accounts Search (Pop-Up Window)

Please Enter Search Value

This is the value to be used to search for the related account record.

Note: If the value inputted into this field is relating to Account No., Name, or ID No., click once on the related Account No., or Name, or ID No button, accordingly.

Account No.

This is the button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Please Enter Search Value' field is relating to existing account number.

Name

This is the button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Please Enter Search Value' field is relating to existing customer names.

ID No.

This is the button to be clicked once, to search and retrieve the relevant account records.

Note: Click once on this button if the value inputted at the 'Please Enter Search Value' field is relating to existing Customer IDs.

<Accounts Listing> (Sub-Panel)

Account No.(Status)

This is the system generated unique reference number of the respective credit facility account and the related status of the account, e.g., A - Active.

Name

This is the customer name of the main holder of the account.

ID No.

This is the unique identification number of an individual (as in a person).

Reln

This is the code and description of the customer-account relationship.

The options that can be displayed, are as follows:-

  • M - Main Holder

  • G - Guarantor

Product Description.

This is the credit facility’s code and name of the product contained in the account.

  • This window will pop up, after user has clicked once on one of the available search criterion buttons, located at the <Account Information> panel, when there are more than one record found.

  • The purpose of this window is for user to select a relevant account record found.
Add Account/ Account Details (Pop-Up Window)

Account Information (Panel)

Customer Name/ Customer ID.

This is the main holder’s customer name, and the related Customer ID number.

Account No.

This is a system generated credit facility account number.

Product

This is the currency code and product code with the related brief product description of the credit facility account.

Account Info

This is the brief details of the account, of which presently it is the status of the credit facility account, e.g., A - Active.

First Release On

This is the date that first disbursement of the credit facility has been performed on the account.

Tenor

This is the credit financing term of the credit facility, e.g., 108 By Month.

Expiry Date

This is the last date of the facility, and rightfully the last date that full repayment of the facility is to be made.

Write-Off Detail (Panel)

Action Code

This is an indication of the respective credit facility account situation following the 'Termination of the Account'.

Note: The relevant options will be made available for selection, during system implementation stage.

Litigation Status

This is the indication of the legal status of the credit facility accounts to be extracted for the batch accounts to be written off.

The available options, are as follows:-

  • L - Under Litigation

  • N - Not Under Litigation

  • P - Under Litigation Processing

Legal Status Code

This is to indicate the legal stage of the litigation process that the credit facility account is going through.

Some options, are as follows:-

  • 10 - Summon/Writ files

  • 11 - Judgement order/Order of sale

  • 12 - Bankruptcy

  • 13 - Charging order

  • 14 - Garnishee order

  • 15 - Writ of seizure and sale

  • 16 - Prohibitor order

  • 17 - Winding-up

  • 18 - Auction

  • 19 - Judgement debtor summon

  • 20 - Receiver/Section 176

  • 21 - Settled/Discharged

Legal Status Date

This is the date that the credit facility account falls into the legal status or stage as indicated at the 'Legal Status Code' field.

  • This panel will be displayed, after user has double-click on an account record at the Accounts Search pop-up window, in attempting to add accounts into a batch.

  • The purpose of this panel is for user to view the details of the selected Account record and to add accounts into a batch.
Rework (Pop-Up Window)

Rework Reason

This is the justification for the rework request made on a batch of accounts.

  • This window will be displayed, after user has clicked once on the 'Rework' button at the 'Pending Approval' panel.

  • The purpose of this window is for user to input the reasons, or highlights on the required changes on the batch of accounts to be reworked.