Adding Variation Fees to a Variable Loan
Purpose
Additional fees may need to be added to a Variable Loan if further advances are made, or the loan term is extended
Access
- Variable Loan Account Browse |
| 
Process
Note: If you don't use the
dialog for advancing funds, then process can be completed by adding Manual Transactions Addition of Fees
- In the
dialog add or uplift each required Fee Item by the new amount
the finance dialog and
the Account
- Change the date to be the correct value date if the date displayed is incorrect. These transaction changes can be back dated.
the dialog
Related Articles
Refinancing a Variable Loan
Purpose To allow the capitalisation of arrears to the future ledger or for the advance of additional funds. Access Variable Loan Account Browse | | Process Note: If you don't use the dialog for advancing funds, then process can be completed by using ...
Extending a Variable Loan
Purpose Allow the continued running of a Variable Loan once the maturity date has passed Access a Variable Loan from the Variable Loan Account Browse Process A Variable Loan may need to have its duration increased. Rather than setting up a new loan, ...
Consumer Loan Refinance
Purpose A Fixed Loan may need to be refinanced due to: Debtor hardship so the same outstanding amount needs to be repaid over a longer period Debtor wants to top up their Loan In either circumstance the steps are the same Process Identify the ...
IFRS Variable Loans
Purpose The Variable Loan System will allow the spreading of fees for each loan. This can only be done on a straight line basis. The Variable Loan Unearned Fees Report will detail how fees will be spread. The Variable Loan System month end reset ...
Variable Loan Account Details
Purpose Variable Loan accounts are used to manage any loan where terms and conditions change over the life of the loan. Common changes may be interest rates, repayment amounts or maturity dates. Timing Variable Loan Accounts may be viewed at any ...