Correcting a loan where finance details have not persisted from the quote
Purpose
Correcting the Fixed Loan Account
- Fixed Loan | Access Fixed Loan Accounts
Search for the newly created loan. This will have no future or current ledger balances displaying
the
loan and complete the missing fields in yellow. Check the next instalment date
is displaying correctly:
Once complete, the
dialog and
the
loan.
Go to , you will see there are no transactions
displaying here.
Next go to . Take note of the figures on this screen as
you will need to reenter them later in the process.
Enter 0.00 against each cost item field and the instalments
on
this dialog.
This will bring the balance back to 0.00
to
save and exit the dialog.
the
fixed loan details dialog and
the
loan.
This now shows a future ledger
balance and has posted transactions to the dialog.
Open the dialog,
change the ledger filter to be future and
. All displayed transactions need
to be reversed. Take note of the transation type
codes that have posted. E.g. EF, INT, PPST, CP
out of
the transaction dialog and
the
loan and exit the fixed loan browse.
Next, go to Accounts | Edit/View Account Transaction Types
Search for the transaction types you took note of above.
the
transaction type and change the input method to be Reversable Control
and
repeat for all transaction types noted.
Close out of the Account
Transaction Types Browse and reopen the Fixed Loan browse. Search for
the loan and
Open the dialog
and highlight the first transaction to reverse
the
dialog. This will add a transaction for the amount reversed.
Repeat this for the remaining transactions.
Highlight all the transactions displaying. They will total 0.00
the
transactions so they will not display on the account summary/statement.
This will bring the Future Ledger Balance back to 0.00 on the details dialog
the
dialog and close down the Fixed Loan Account Browse.
Next, go to Accounts | Exit/View Account Transaction Types
Search for the transaction
types you took note of above. the
transaction types and change the Input Method back to Control
Repeat for all transaction types that were changed earlier.
Close out of the Account Transaction Types Dialog and Reopen the Fixed Loan
Next go to dialog
and reenter the figures noted earlier.
on
this dialog,
the
fixed loan dialog and
back
into the loan.
There will now be a figure in the Future Ledger Balance
Go to the dialog. The transaction have now posted
correctly on the loan. Check all the loan details are correct and
the
dialog. Close out of the Fixed Loan Account Browse.
Deleting the Original Quote
- Quote | Access Quote Details
Search for the loan just created. Sometimes this will still be showing in the Quote Browse dialog.
If it is displaying, the
quote.
Related Articles
Fixed Loan Finance Details
Purpose To provide a breakdown of the loan cost items and allows the management of instalments Timing The Finance details may be accessed at any time. Instalments may be altered during the life of the loan. It is recommended that if further funds are ...Fixed Loan Control Details
Purpose Provide control details for the month end roll over process, key setup parameters and allow file paths to be selected for custom reports Access Fixed Loan | Edit/View Fixed Loan Control Details Dialog Details Details Specific Fields Field ...Fixed Loan Account Details
Purpose Fixed Loan Accounts are used to record and manage loans that are fixed in nature. The interest rate is fixed for the life of the loan and the expected repayments usually do not alter. Timing Fixed Loan Accounts may be viewed or set up at any ...Fixed Loan Account Type Setup
Purpose The Fixed Loan Account Type details setup will specify the calculation rules, Transaction Types and General Ledger codes that are used to post control transactions on the Fixed Loan Account. Access Account | Edit/View Account Types | | ...Fixed Loan Account Fields
Field Explanation [HPACC_ARR+LETFEE] Arrears and letter fee This is the current (arrears) balance plus the letter fee generated during the letter run [HPACC_ARR+LETFEE+ACRINT] Total of arrears plus the letter fee and accrued interest (penalty) ...