The trading loan is any financing that is provided for the purpose of conducting domestic and/or international trade between a buyer and a seller. Banks and financial institutions can be the providers of such financing and thus allow the transaction.
Borrowers can repay the debt later to the concerned financing organization within the predetermined period of time.
This repayment of Loan settles an existing financing contract partially or for the full amount.
For interim settlement, the user can select whether interest shall be capitalized, to be charged now or at maturity of the loan. If the loan has reached maturity, any outstanding interest must be settled.
The contract will be closed if the repayment is made in full. If only partially repaid, the contract remains open.
In the event of full repayment, all fees not yet settled for the contract are transferred to the Settlement Panel and set to 'Settle immediately'.
To settle an existing Loan contract(partially or fully) which is open and not closed, TRTSET transaction is used.
Select it from the menu item[Financing Products -> Loan -> Main -> Repay Loan].
When you have made your changes, click on the ( ) Save function to save all the the data entered in the transaction to the database.