Log a balance rollover

A balance rollover is a transaction type available for line of credit accounts. Here are some things to note about balance rollovers:

There are multiple balance rollover scenarios. A balance rollover works by transferring the balance of a line of credit account to an installment loan. When a rollover is initiated, the destination can either be an existing loan account or a new one. This decision will affect how the balance is transferred and how the payload is built.

Logging a balance transfer creates a link between the two accounts. The information for a newly created link is stored within the LineOfCreditAccountLinking object.

The installment loan account must already exist. Before a balance rollover can occur, the destination of the balance must already exist. For information regarding creating installment loans, see Create New Loan ↗

Balance rollovers use advancements to add the balance to an installment loan. The line of credit account's balance will be reduced while the loan account's principal balance will increase.

Once accounts are linked together, payments can be split between the accounts. Take a look at our Line of Credit – Linked Accounts Payment Application ↗ article to learn more.

Balance Rollover Scenarios

Here are step-by-step breakdowns on building the payload for your balance rollover scenario:

Database

For information regarding balance rollover database tables, see the following articles:

• Database – Linked Accounts Balance Roll Over (linked_accounts_balance_roll_over_entity)
• Database – Line of Credit Account (line_of_credit_entity)

Sample Payloads

{
    "description": "Roll balance into installment loan",
    "applyDate": "2024-01-31",
    "accountLinkingId": null,
    "destinationAlreadyExists": 1,
    "linkedEntityType": "Entity.Loan",
    "linkedEntityId": 24224,
    "mainEntityType": "Entity.LineOfCredit",
    "mainEntityId": 685,
    "advancementCategoryId": 1,
    "sourceBucketBreakdown": [
        {
            "bucketId": 1,
            "amount": 500.00
        },
        {
            "bucketId": 2,
            "amount": 0
        }
    ]
}

{
    "description": "Roll balance into installment loan",
    "applyDate": "2024-01-18",
    "accountLinkingId": 11,
    "destinationAlreadyExists": 1,
    "linkedEntityType": "Entity.Loan",
    "linkedEntityId": 11767,
    "mainEntityType": "Entity.LineOfCredit",
    "mainEntityId": 52,
    "advancementCategoryId": 1,
    "sourceBucketBreakdown": [
        {
            "bucketId": 1,
            "amount": 300.00
        },
        {
            "bucketId": 2,
            "amount": 0
        }
    ]
}