Payments: Posting Future Payment
This article will show you how to post a future payment. The loan record must be current and payments must be posted individually for each future month. How to Post a Payment 1) Within a loan, go to the Payments menu and click on the Transactions submenu 2) Click the +Add button 3) Transactio…
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 additi…
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 article. A change to the reporting identification number is done at the time of report generat…
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 Funding Sourc…
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. b.…
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 Late Fee Transaction Type * Using the Late Fee transaction type will allow you to assess a late fee to an ac…
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 (non 504 payment processing add-on module) how to: - Link funds already disbursed in the pay…
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 follow…
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 * If you need to set up or change (on…
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 What does the Adjustment: Total Amount Due transaction type change? * T…
