Since closed-end loans are usually closed automatically when they are paid off, there is no opportunity to choose a reason code when that final payment is being made. However, if you are using Tool #22: Close Memberships/Accounts to manually close an zero-balance loan (such as an LOC or credit card), you can enter a reason code on the Close Other Accounts window. It will be recorded in the RSNCDECLO field on the ACHISTx table for that closed account.

If you wish, you can use Tool #902 Update Membership/Account Reason Codes to update the closed reason code on any loan account.