The Payoff Calculator is used to calculate a single payment amount that results in a zero balance on the account. The Payoff Calculator dialog is only available while in the Account view. Access to this dialog is controlled by the User Class table. The payoff calculation uses some fields from the current account data (Accounting Extract) along with input from the user to determine the payoff amount. The calculation is a simple interest calculation based on the interest rate of the account or the rate entered by the user.
The Payoff activity is recorded using the PO activity code when the user selects Save from the Payoff Calculator dialog. The Save button is only available after a payoff calculation has been completed successfully.