Note prepayments

Note prepayments are customer payments that reduce the current balance on the principal of the note. When you receive customer prepayments for contract notes, you can immediately record and release each prepayment. Releasing the prepayment makes the payment amount available for transfer to Global Ledger.

You can print customer note balances for administrative review from the Franchisee Note Balance page.

At a user-defined time in the cycle, you can post note prepayment amounts to the global ledger.

See Updating prepayments.

Before you update prepayments, you must create and release prepayment records .