http suspense payment refund com Account Portal Instructions Help Guide

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http suspense payment refund com Account Portal Instructions Help Guide Verified link:https://docs.oracle.com/cd/E23638_01/rules_palette/Content/Suspense/Suspense%20Refunds.htm

What is a suspense account and how do I use it?

The most common use for a suspense account is for partial payments. If you make a partial payment, the suspense account will hold your payment until you send in the rest.

What is a suspense refund in OIPA?

Suspense Refunds. When a client level activity is processed in order to create a suspense refund, configuration is present to require that OIPA automatically generate a suspense refund number. The final piece of the process requires that a disbursement activity be processed to return the money to the client.

What happens when you pay off a mortgage with a suspense account?

Once a full payment is available, your mortgage lender will remove the funds from the suspense account and apply them to your mortgage. Your mortgage lender may use a suspense account for other reasons.

What is a suspense balance?

The suspense balance refers to the amounts held in a suspense account. The term "suspense" originates from the fact that your lender holds these funds in suspense — think "suspended in the air" — until it applies them. The most common use for a suspense account is for partial payments.

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