To make a repayment using cash or similar payment type
Locate the loan account by navigating to it through the client who holds the loan account.
- Select Make Repayment from the action bar.
- Accept the default Transaction date or select a different date from the calendar pop-up.
- Accept the default Transaction amount or type a different repayment amount.
- Select Payment type from the list.
- Click + to add payment details (optional).
- Account#
- Check#
- Routing code
- Receipt#
- Bank#
- Type relevant notes.
- Click Submit.
The loan account repayment will be recorded and the repayment schedule and loan summary will be updated with the payment information.
To make loan repayments from a saving account (one time transfer)
Locate the saving account from which the loan repayment will be made (the originating account).
Note |
---|
The saving account from which the transfer originates need not belong to the same client that the loan account belongs to. The client who owns the originating account must request/authorize the transfer. The originating and destination accounts must be in the same currency. |
- Click the saving account name in the list to view the saving account information.
- Click More and Transfer Funds from the action bar.
- Select the group and account (the destination loan account to be repaid) to transfer funds to:
- Office: Select the office where the destination loan account is located.
- Client: Select the client who holds the destination loan account.
- Account type: Select the loan product type upon which the destination loan account is based.
- Account: Select the destination loan account.
- Amount: Type the transfer amount.
- Select the Transaction date from the calendar pop-up.
- Type any notes in Description
- Click Submit.
Anchor | ||||
---|---|---|---|---|
|
Standing instructions can be set up to transfer funds from a saving account to a loan account. The transfer will take place based on the scheduled defined in the standing instruction. For a loan repayment, the standing instruction schedule can be set to match the loan repayment schedule.
Note |
---|
The saving account from which the transfer originates need not belong to the same client that the loan account belongs to. The client who owns the originating account must request/authorize the standing instruction. The originating and destination accounts must be in the same currency. |
Note |
---|
Need to describe what happens when a standing instruction cannot be completed because of a shortage of funds in the originating account. There seems to be an outstanding issue in JIRA regarding re-attempts to satisfy the standing instruction. |
Locate the client or group whose savings account will be the origination of the funds for the transfer.
- Click More and Create standing instructions to create new standing instructions.
- Complete the fields on the Create Standing Instruction form. See Standing Instruction form fields.
- Click Submit.
The standing instruction will be created and will be in effect from the Validity from date until the To date, inclusive; or until the standing instruction is Disabled.
Warning | ||
---|---|---|
| ||
|
Info |
---|
Related articles
Filter by label (Content by label) | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|