The following are some tips and tricks to help you create custom Payment reports!

 

1) You have two options when creating your own custom report:

• Click + Add to create a brand new report with zero parameters, fields, and filters pre-populated OR
• Click on the double page icon next an existing System or Custom report to COPY and customize. This option may be helpful to you if you like a System report and want to capture a few additional data points.

 

2) In the Details tab of your report you can add parameters to capture a certain set of conditions (ie only select a certain Loan Type, date range that transactions were posted, etc) that the user will select before generating the report. Parameters that are specific to Payments are below:

Example of Parameters set up in a report:

 

Other helpful parameters to use in Payments reports are:

• Funded Date
• Loan Sub Status
• Loan Status
• Loan Type

 

NOTE: Payments: As of Posted Date parameter looks at the Posted transaction date when capturing values at a point in time. 

NOTE: Payments: As of Effective Date parameter looks at the Effective transaction date when capturing values at a point in time. 

NOTE: Payments: Accounting Month parameter/fields are only used when User closes out their Accounting Months in Payments.

NOTE: Payments Owner and Payments: Owner Effective Date parameters are related to the Payments Ownership module. 

 

3) There are various sections within Fields that are specific to Payments and payment processing and you may use fields within these sections to build your Payments custom report. The fields are:

 

4) Typically, you will be using Payment Account fields and Payment Transaction fields exclusively. What kind of information do these fields capture?

 

Payment Account: High Level overview of Account data (use to capture a current snap shot of account information)

Payment Transaction: Transactional Level Data (use to capture transactions that have been posted to borrower accounts)

 

Payment Account Data Examples	Payment Transaction Data Examples
-Interest Rate -Base or Spread Rate -Days Past Due -Next Due Date -Interest that has been paid to date on the life of the loan	-Transactions posted to borrower account -Breakdown of Principal and Interest of posted payments -Principal Balance after a posted payment transaction

 

5) What are Effective Date, Posted Date, and Added On fields from the Payment Transaction section referring to, and where do these appear on a Borrower's account?

 

• Effective Date = Date payment will be effective. Interest accrual and calculation are based off this date. 
• Posted Date (AKA Received Date) = Date payment was received on and Lender wants to post as.
• Added On Date = Date the transaction was added to borrower's account in Ventures.

 

Effective Date and Posted Date can be manually inputted by the User when entering a payment transaction.

 

Added On date is a system timestamp for when the actual transaction was posted within Ventures.

 

6) If your report is generating duplicates and blank fields, the issue could be you are using multiple fields from multiple Payments sections. Some of the fields do not mix well with other fields from another section. It is best if you try and stick to one section for most of your fields. You may want to reach out to Ventures support to better troubleshoot which field is causing the duplicates or blanks.