To make a repayment using the collection sheet (and productive collection sheet)
** UNDER CONSTRUCTION—The collection sheet is a way to create bulk transactions for repayment of loans. Collection sheets ...***
To make a repayment using cash or similar payment type
Locate the loan account by navigating to it through the 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).
- Routing code
- 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.