Determine Payment for Interest Only Loan

How do we determine the payment due for an interest only loan?

Typically, during month end processing, IL602 (Loan Month End Interest Posting) is run. This updates the interest due for your loans by looking at the last interest post date and subtracting any interest paid between that date and the date that IL602 is run. At that point, you can see the interest due by using the Financial Inquiry to look up the loan and view the Detailed Loan Inquiry for that loan. There is a field for Actual interest due which will show you the amount due.