| FAQ 836: Loans: Reflecting accrued interest on a participant loan |
"Is there a way we can enter accrued interest on a participant loan? For example, interest which is accrued during the cure period before a loan is defaulted. We can't seem to figure it out.
"If you want to increase the ending loan balance, you will need to input the accrued interest in the "Transfers In" field. If you input the accrued interest in both the "Transfers In" and the "Interest" field, you will see the accrued interest in the earnings column on reports, and the ending balance on the loan will be increased by that amount. If you only input the accrued interest in the Transfers In field, the accrued interest will show up in the Transfers column, so the choice is up to you based on how you would like it to show on the reports."