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Showing articles from payment tag

Payments+ How to increase loan amount after boarding payment account

The steps below will show you how to increase the loan amount on a previously boarded a payment account and disburse the additional funds. The new amount added will then be available to disburse in the Payments > Transactions menu. If there is a transaction posted before the effective date you want to disburse additio…

Payments+ Metro2 Credit Reporting - Changing the Reporting Identification Number

***This KB article is for Payments+ clients that use the Metro2 Credit Reporting module*** For information regarding how to generate a Metro2 Credit Report, please see the [Payments+ Metro2 Credit Reporting Cheat Sheet][1] article. A change to the reporting identification number is done at the time of report generat…

Payments+ Fee Transaction Types

This article will explain what _Fee _transaction types can be assessed within a borrower's payment account. There are 3 transaction types that are labelled as Fee: * Late Fee * NSF Fee * Other Fee ![][1] **Late Fee** Transaction Type * Using the Late Fee transaction type will allow you to assess a late fee…

Payments+ How to add an Owner/Investor/Fund when boarding a payment account

This KB article will give you instructions on how to add an Owner, Investor, or Pool/Fund when boarding a payment account. This process is for clients that have the Ownership piece. You can always add an Owner, Investor, or Pool/Fund after the payment account has been boarded. Please board the payment account followin…

Payments+: How to track one Loan Pool or Loan Fund per loan without Ownership module

If you **DO NOT** have **Payments+: Ownership **(a_dd-on module),_ you can still track and report on a loan fund or loan pool if they funded/own 100% of the Amount Financed. **ACTION ONE**- _Set up Associated Transaction_ 1) Within the loan go to the **Associated Transactions **menu 2) Click **+Add** 3) Select **F…

Setting up Deferments in Payment Accounts

Please read the full article before making any changes. Go to **Payments > Transactions** menu to begin. _FULL DEFERMENT/NO PAYMENTS_ 1) First confirm the **Total Amount Due** is correct. a. If the month of the payment being deferred has already been billed, void out or delete the billing statement. ![][1] b. If …

Using the Tracking > Disbursements menu with Payments+

Before using the Tracking menu > Disbursements with Payments+, please review the KB article **Using the Tracking menu > Disbursements **to learn how the Disbursements menu works. This article will show users that have Payments+ (non504 payment processing add-on module) how to: - Link funds already disbursed in the pa…

Payments+ How to Generate a 1502 Report

You will need to be able to access the **Payments** main menu tab in order to generate a1502 report. You will be able to generate a report filtered by different loan programs and report types. **_How to Generate a 1502 report_** 1) Click on the **Payments** main menu tab on the upper right hand site of your Ventures…

Default Billing Statement Set Up

Users have the option of sending the same system billing statement to all borrowers or, if they have Web Templates, they can 1) assign a custom billing statement to all borrowers or 2) assign different custom billing statements per loan type. # ****Default System Billing Statement**** 1. If you need to set up or c…

Payments+ Adjustment Transaction Types

This article will explain what each _Adjustment_ transaction type can adjust within your borrower's payment account. There are 3 transaction types that are labelled as **Adjustment:** * Total Amount Due * Due Date * Interest Paid to Date ![][1] What does the **Adjustment: Total Amount Due** transaction type c…

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