How do I close prepayment period?

A prepayment is early repayment of a loan by a borrower. The prepayment period is the length of time when borrowers can make payments. When this period is over the borrow cannot make prepayments for the property district. Use Close Prepayment Period to end the prepayment period.

When the prepayment period is closed, but not before, you can send period statements, notices, and bills to property owners.

Contents

Step 1: Back up database
Step 2: Close prepayment period
Options

Step 1: Back up database

Before proceeding, back up the current files. Always make a back up of the database BEFORE running routines that modify or delete transactions. See the help topic titled How do I back up a database?

Step 2: Close prepayment period

Running this routine will end the prepayment period.

Do this...

1. Open Connect Property Improvements > Organization > Close Prepayment Period.

2. Fill in the district number and prepayment completed date.

3. Click GO (CTRL+G).

The prepayment period is closed.

Options

District number

The district number is a unique number assigned to a district. Use the District Number field to select district number that belongs to the district with the prepayment period that you wish to close.

What do you want to do?

I know the district number. Use the District Number field to enter the district number that belongs to the district.
Help me find the district number. Use the District Number menu to select Search.
Show me more information about the district number. Use the District Number field to enter a district number, then use the District Number menu to select Additional Information.

Prepayment completed date

The prepayment completed date is the last calendar date when prepayments for the district will be accepted.

What is the prepayment completed date?

I want to use the default date. Continue to the next step.
I want to use a different date. Use the Prepayment Completed Date to enter the MM/DD/YYYY when the prepayment period is finished.