Payments Using a Charge Off Loan transaction type
*** Watch THIS 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 Q: What happens when I use…
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…
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 : * Payment * Principal Only * Prepaid interest Using the Payment Transaction Type * The Payment transaction allows user…
