To make a repayment using the collection sheet (and productive collection sheet)
The ** UNDER CONSTRUCTION—The collection sheet is a way to create bulk transactions for repayment of loans. Collection sheets sheets ...***
To make a repayment using cash or similar payment type
Locate the loan account by navigating to it through the client group that 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).
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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. |
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.- 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.
To make loan repayments from a saving account (standing instruction transfer)
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.
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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. |
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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.
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