OVERVIEW

In order to schedule future transactions, go to Payments > Schedule Transactions.  You can access this menu and add scheduled transactions at any time - even if the borrower’s repayment period has already started. 

Schedule Transactions Grid

+Add button
A) Use this button if there are one time future changes that do not reoccur on a set schedule. For example, a payment account was boarded with a monthly payment amount of $1,000.00. Five years into the loan term, the payment amount changes to $5,000.00. You would select +Add and schedule the future payment amount change.

+Add Seasonal button
B) Use this button if your loan is seasonal or has a recurring set payment schedule. For example, the borrower makes 5 months IO payments and then 7 months of $3,000.00 P&I payments every year until loan maturity. 

x Mass Delete button
C) If you make a mistake on your schedule, you can select this button to delete all transactions you have scheduled with +Add button.  If you make a mistake on your seasonal schedule, you can select this button and it will delete your scheduled transactions from the grid, however when you select +Add Seasonal again, it will have the “deleted” transactions in the grid for you to edit. 

Pending or Processed drop-down
D) This drop down gives you the option to view pending scheduled transactions, as well as processed transactions.

When scheduling your transactions You have the option of selecting Set Payment Amount/Type or Set Interest Rate. 

Set Payment Amount/Type Includes the following actions:
1.Set Payment Type - P&I, IO, and Fixed Principal 
2.Set Payment Amount, Set Fixed Principal Amount, or Reamortize (have system calculate)

Set Interest Rate Includes the following actions:

1.Set New Effective Rate - Set what date the interest rate will be changed

2.Set Rate Type - Can change rate type or leave as -No Change-
3.Set Basis - Can change Basis or leave as -No Change-

4.Set Effective Rate - New effective rate percentage to take effect
 

HOW TO ADD INDIVIDUAL TRANSACTIONS
1. Click +Add.
2. You will select between Set Payment Amount/Type and Set Interest Rate transactions and enter either statement date or effective date along with changes (depending on type of transaction).
3. Click Save.
4. Transaction will be added to the grid.

EXAMPLE SCHEDULE
The schedule below reads as follows- Borrower is making monthly payments, until their May payment. In May, they will pay a new payment amount of $5,000.00 every month until December. Borrower’s payment will be reamortized for their December statement. The new reamortized payment amount will be the same until loan maturity. Only two scheduled changes are present on account.

*****PLEASE NOTE*****
If you board an Interest Only payment account and enter their First P&I Date and First P&I Payment Amount in Loan Details, It will create a scheduled transaction in Payments > Schedule Transactions automatically. The First P&I Date and First P&I Payment Amount fields will be hidden once the payment account has been boarded. If you need to go back and edit, you will do this in the Payments > Schedule Transactions grid. You need to enter both First P&I Date and First P&I Payment Amount in order for a schedule transaction to be created. If you only enter First P&I Date and leave First P&I Payment Amount field blank, a scheduled transaction will not be recorded. If you do not know the amount of the P&I payment, then leave First P&I boarding fields blank and add a schedule transaction after payment account boarding.

HOW TO ADD A SEASONAL LOAN SCHEDULE

1. Select Start Date and End Date. It will default to today’s date plus one day and the maturity date, however, the date range is editable. The transactions you add will respect those dates limitations. 
2. Click +Add

3. You will now add your future transactions by statement date from January to December, for one calendar year. You will select between Set Payment Amount/Type and Set Interest Rate. You only need to schedule transactions for when changes take place, you do not need to schedule a transaction for every month. If there are only two changes per calendar year, then there will only be two transactions in this grid.
4. Once you have your schedule for the calendar year set, click Generate.
5.You will be prompted to confirm again if you want to generate the X amount of transactions. This number will be the number of transactions you have scheduled between the Start and End date of the seasonal schedule. Click Generate.
6. The grid will then populate all scheduled transactions through maturity.

7. If you made a mistake you can individually X out any record, or use the Mass Delete button
NOTE- if you select Mass Delete a Seasonal Schedule, when adding a new Seasonal Schedule back in, your prior seasonal schedule will be in the grid to edit.