Payments Using a Charge Off Loan transaction type
*** Watch [THIS][1] video for information about the Charge Off Loan transaction type *** **Q: How do you add a Charge Off Loan transaction type?** A: In the Payments menu > Transactions menu: * Click on +Add * Select Charge Off Loan transaction type * Enter Effective Date * Click Save ![][2] **Q: What hap…
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…
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 …
Payments Payment Transaction Types
This article will explain what each _Payment_ transaction type can be posted to a borrower's payment account. There are 3 transaction types that are labelled or referencing **Payment**: 1. Payment 2. Principal Only 3. Prepaid interest ![][1] Using the Payment Transaction Type * The Payment transaction allo…
