Repayments Section

The optional date by which the balance should revert to zero.

 

This field holds the Next repayment Due date. The system will update this during any Direct Entry bank processing.

The amount of any fixed repayment amount

 

 

For fixed term loans, this is the amount (at the current rate of interest) that would be needed to fully repay the loan by the "Loan Expires" date.

 

Many LMS users round this amount up to the next $1 or $10 to encourage borrowers to payout loans early.

Optional field to over-ride the amount of the next due DDR (Direct Debit) amount when using Direct Entry Bank processing of repayments.

 

This is a single use field. Once the next DDR banking process is run, this field will be cleared.

 

Here you set what amount should be gathered when processing any Electronic Bank Direct Debit processing.

 

1: A setting of Std. DDR repay amount   will collect just that amount.

 

2: For loans on an "interest only repayment basis" such as Bridging Loans, this will make the DDR amount just the latest interest amount.

 

3: For loans where the repayment basis is a fixed amount, Plus the latest interest charge, use the third option.

 

This button takes you to another screen where you specify the known expected repayments for a loan. This is used to generate the arrears figures and reports.