Change Base Rate of Variable Interest Rate Loans
There are two ways to change a loan’s base rate: * Either _within the loan_; or * Processed _within a bulk action_ **Changing the Base Rate Within A Loan:** 1.Go to **Payments **> **Transactions **> Click **+Add** 2.Select **Transaction Type**: **Set Interest Rate** 3.Fill out all required fields and adjust …
Payments > Billing menu explained
![][1] 1. **Contact Method** - Select which method the borrower would like to receive their billing statement by: * **Mail** - Select this option if the borrower would like to receive their billing statement by mail. When generating billing statements in Payments > Actions > Generate Statements, the borrower's s…
Payments 1098 Report
**Part 1 - Tracking borrowers that are 1098 recipients** The Lender will need to identify which payment accounts require IRS 1098 reporting. There is a helpful report, located in Reports & Letters, to assist in identifying potential 1098 reporting borrowers called **"Payments: Potential 1098 Reporting."** This report…
Payments Video Trainings
Here are our previously recorded webinars covering Payment Administration, Boarding and Transaction Types, along with links to relevant articles in our Knowledge Base: **Administration and Boarding Webinar** **Transaction Types** **Boarding and Administration** [How to Board a Payment Account in Payments][1] [Sch…
Payments: How to Post a Payment
This article will show you how to post a payment to a borrower's account, and how to reverse or delete out the payment. There are two items you will want to confirm before you begin: * Do you have the appropriate permission settings? You need to be able to access the **Payments** > **Transactions** menu within a lo…
Payments: Importing/Exporting NACHA Files
Want to **export NACHA files** from Ventures to send to your Bank to initiate ACH debits? If yes, then you will need to set up a few items ahead of time in order for this to be successful. _**NEED TO KNOW**_ - Exported NACHA file uses SEC code **PPD or CCD ***CHECK WITH YOUR BANK TO CONFIRM YOU ARE AUTHORIZED TO INI…
Payments Metro2 Credit Reporting Cheat Sheet
***This KB article is for Payments clients that use the Metro2 Credit Reporting module*** Q: **How do I set up an account for reporting?** A: In the Payments Menu > Credit Reporting (Metro2) > Manage Accounts menu you will be able to set up accounts for credit reporting. The _Manage Accounts_ grid lists all boarded …
