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The Recovery Account and Repayment Plan Payoff Quote panels provide recovery agents with the ability to create and manage payoff quotes for a recovery account or repayment plan. A payoff quote is required in business situations, such as the debtor receiving a significant sum of money, wanting to pay off a single account, or asking for a payoff towards the end of their repayment plan.

The Recovery Account and Repayment Plan Payoff Quotes topic includes an overview of the panel, as well as instructions for adding, editing, and deleting payoffs on recovery accounts and repayment plans.

• Panel Overview
  • Action Buttons
  • Payoff Quote Grid
  • Payoff Quote Window
    • Action Buttons
    • Calculation Inputs
    • Unapplied Transactions
• Adding Payoff Quotes
• Editing Payoff Quotes
• Deleting Payoff Quotes

Panel Overview

This panel consists of a grid that displays all the payoff quotes generated for a recovery account or repayment plan and a series of action buttons that allow users to create and manage payoff quotes.

Action Buttons

At the top of the panel, the following buttons are available:

Button	Description
	Allows users to add a payoff quote to a recovery account or repayment plan. This button is disabled within the Repayment Plan Payoff Quote panel when there are no active repayment plans for the account in context. For more information on adding a payoff quote to a recovery account or repayment plan, please see the Payoff Quote Window and Adding a Payoff Quote sections within this topic.
	Allows users to edit an existing payoff quote on a recovery account or repayment plan. This button only becomes active when a payoff quote is selected in the grid. For more information on editing an existing payoff quote on a recovery account or repayment plan, please see the Payoff Quote Window and Editing a Payoff Quote section within this topic.
	Allows users to delete an existing payoff quote on a recovery account or repayment plan. This button only becomes active when a payoff quote is selected in the grid. For more information on deleting an existing payoff quote on a recovery account or repayment plan, please see the Deleting a Payoff Quote section within this topic.

Payoff Quote Grid

The grid within the Payoff Quotes panel displays the following payoff quote attributes as columns:

Column	Description
Payoff Amount	Displays the total payoff calculated by the quote generation process.
Payoff Date	Displays the payoff date provided in the quote generation process.
Pending Debits	Displays the sum of all pending debits entered by the user in the Unapplied Transactions section of the Payoff Quote pop-up window.
Pending Credits	Displays the sum of all pending credits entered by the user in the Unapplied Transactions section of the Payoff Quote pop-up window.
Created By	Displays the name of the user who created the payoff quote.
Created Date	Displays the date and time when the payoff quote was created.
Modified By	Displays the name of the user who last edited the payoff quote. If no edits have been made to the payoff quote, the name of the user who created the payoff quote displays.
Modified Date	Displays the date and time when the payoff quote was last edited. If no edits have been made to the payoff quote, the date and time when the payoff quote was last edited displays.

Payoff Quote Window

The Payoff Quote pop-up window provides users the ability to input the variables necessary to generate a payoff quote. To access this window, click  or  within the Recovery Account/Repayment Plan Payoff Quote panel. Once clicked, the Payoff Quote pop-up window opens.

This window consists of three sections:

• Action Buttons
• Calculation Inputs
• Unapplied Transactions

Action Buttons

At the top of the window, the following buttons are available:

Button	Description
	Validates the Payoff Date and generates the payoff amount using the Quote Generation Process. Quote Generation Process
	Saves the payoff quote. Only becomes available after a payoff is generated.
	Saves the payoff quote and closes the window. Only becomes available after a payoff is generated.
	Confirms cancellation and closes the window.

Calculation Inputs

 The Calculation Inputs section is composed of the following fields:

Field	Description
Selected Account	Read-only field that displays the recovery account number or repayment plan ID number.
Payoff Date	Allows users to view and select the date through which the payoff quote is valid. Click within this field and select a date from the calendar that identifies through which date the payoff date is valid. Payoff quotes can only be generated up to six months in the future.
Current Balance	Read-only field that displays the recovery account's or repayment plan's current balance.
Payoff Amount	Read-only field that displays the payoff amount for the recovery account or repayment plan. This value populates when the user clicks . This value is required to save the window. Additionally, this value is nullified when any other information in the window changes.

Unapplied Transactions

The Unapplied Transaction section allows users to enter all known transactions that affect the payoff amount and will be received in the future. This section consists of action buttons and a grid that displays all unapplied transactions which have been identified.

Action Buttons

Button	Description
	Adds a line to the Unapplied Transaction grid, allowing users to create a new unapplied transaction. Upon clicking , a new row is added to the unapplied transactions grid where users are able to input the transaction's date, amount and transaction code.
	Allows users to remove an unapplied transaction from the grid. This button only becomes active when a payoff quote is selected in the grid.
	Allows users to schedule payments for unapplied transactions.  This button only appears for repayment plans. This button adds the dates and amounts to all scheduled payments between the current date and the date of the payoff in order to add the amount and dates for those payments. Users must select the transaction code under which the payments are imported. When this button is clicked: Imported scheduled payments are cleared. Manually added transactions are maintained. If there are imported scheduled payments matching the same date and amount of unapplied transactions, a warning message indicates that there are scheduled payments matching unapplied transactions that were entered. Users are also instructed to review the unapplied transactions in order to determine if any duplicate transactions exist before generating the payoff quote. If there are no scheduled payments that can be imported, a message indicates that no scheduled payments exist between today and the payoff date. Users are also instructed to check the payoff date and add the scheduled payments if required.

Unapplied Transactions Grid

The unapplied transactions grid contains the following columns, which allow users to identify unapplied transaction details:

Column	Description
Date	Allows users to view and select the date when the unapplied transaction will occur. Click within this field and select a date from the calendar tool. The date for an Unapplied Transaction cannot be set to a date in the past.
Amount	Enter the amount of the unapplied transaction.
Transaction Code	Allows users to select the transaction code that applies to the unapplied transaction from a drop-down list. This drop-down list includes all active transaction codes with a category of Payment/Recovery that the user has permission to access.

Adding a Payoff Quote

To add a payoff quote to a recovery account or repayment plan:

• Click  within the Recovery Account/Repayment Plan Payoff Quote panel.
• The Payoff Quote pop-up window opens.
• Select the Payoff Date.
• Enter any unapplied transactions.
• If working with a repayment plan, click  to schedule payments for any unapplied transactions. 

  When the  is clicked more than once, a message appears to confirm whether the Scheduled Transactions should be updated. Clicking No cancels the process and returns to the Payoff Quote window. Clicking Yes removes the scheduled transactions in the grid and then re-imports the scheduled transactions to be included in the payoff quote. This ensures that duplicated transactions are not included in the payoff quote.

• When all information is complete, click .
• Upon clicking , the following validations are performed:

Validation	Description
The Payoff Date is set to a date in the past and unapplied transactions appear in the grid.	A warning message is received to alert that selecting a payoff date in the past removes any unapplied transactions. Within this message, click OK to proceed with generating the payoff quote or Cancel to revert the Payoff Date to the current date.
The Payoff Date is set to a date that is greater than six months in the future.	A message appears to inform that the date selection must be modified to continue generating a payoff quote.
The Payoff Quote includes additional transactions that were not reflected in the current balance.	A message appears to inform that the Recovery Account or Repayment Plan’s balance has been brought up to date based on processing transactions that were not included in the current balance.    When this occurs, the Current Balance field updates to reflect the payment that was applied while the payoff quote was in process and the Payoff Amount field updates to display the balance due after the payment transaction was processed.
The date for an Unapplied Transaction is set to a date in the past.	A message appears to inform that Unapplied Transactions cannot occur in the past. To generate a payoff quote using a back-dated transaction, click the  button to first process a payment (or other type of transaction) for the desired account.

• Once the payoff generates successfully, a message with the payoff amount appears to inform that the payoff quote generated and the amount is populated in the Payoff Amount field.
• Click OK to close the message and then click  to retain the payoff quote. The new record is added to the Payoff Quote grid.

Editing a Payoff Quote

To edit a payoff quote on a recovery account or repayment plan:

• Double-click the desired payoff quote within the Payoff Quote panel or select the payoff quote and click .
• The Payoff Quote pop-up window opens.
• Update all necessary data.
• Click .

If an unapplied transaction is added to an existing payoff quote, a message appears upon clicking  to inform that a payoff amount already exists for the quote and confirm that a new quote should be generated.

• Once the payoff generates successfully, a message with the new payoff amount appears to inform that the payoff quote generated and the following updates are applied to the payoff quote:
  • The Payoff Amount field displays the new amount of the payoff quote.
  • The Pending Credits field displays the amount of the unapplied transaction added to the payoff quote.
  • The Modified Date displays the date/time the edited payoff quote was saved.
• Click OK to close the message and then click  to retain the updated payoff quote. The updated record appears within the Payoff Quote grid.

Deleting a Payoff Quote

To delete a payoff quote on a recovery account or repayment plan:

• Select the payoff quote that is to be deleted within the Recovery Account/Repayment Plan Payoff Quote panel.
• Click .
• Confirm the deletion when prompted.

 

 

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