Understand Loan payment actions

Understand Loan payment actions

On the loan profile page there are various actions associated with payment. They will cut across the multiple stages of a loan cycle. Here is a view of the payment actions.
a. Normal Payments


b. Early Settlement



1. How to do a Paybill Payments:

      i) Click on the paybill button on the payment history tab.


      ii) The system will prompt a confirmation to check for the payment post.


      iii) If everything checks out the payment is posted on the loan.



2. How to do a Bank Payments:

      i) Click on the bank payment button on the payment history tab.



ii) The system will prompt a confirmation to check for the payment post.


iii) If everything checks out the payment is posted on the loan.


3. How to do a Other Payments:

      i) Click on the other payment button on the payment history tab.


      ii) The system will prompt a confirmation to check for the payment post.


      iii) If everything checks out the payment is posted on the loan.



4. How to upload payments for the loan:

      i) The feature here allows the user to upload payment files through the upload button. Accesses the local files on the user's             computer

      This will prompt getting files from the users computer and upload payment document.

5. How to download the payments template:

      i) The feature allows the user to download the payments template that the user will use to import the loan payments

      ii) Sample  Template


6. How to Reverse Payment:

      i) On the payment table list, on each payment there is an action to reverse payment from a loan applicant


      ii) The system will prompt a confirmation for the reversal action. With a highlighted transaction and amount for the                   payment. Other important details are reversal date and time together with a reversal description.


      iii) Once all inputs are filled and checked, user can reverse the payment from the loan payments

      They will receive a notification that the payment has been reversed.

7. How to Reverse a Bounce Cheque:

      i) On the payment table list, on each payment there is an action to reverse a bounce cheque payment from a loan                         applicant


       ii) The system will prompt a confirmation for the reversal action. With a highlighted transaction and amount for the                   payment. Other important details are reversal date and time together with a reversal description.


      iii) Once all inputs are filled and checked, user can reverse the payment from the loan payments




8. How to do early settlement on a loan payment:

      Early settlement is like an accrual plan for a loan applicant to settle the expected loan for a loan applicant in the sense that it       involves paying off the loan before the scheduled completion date. In an accrual plan, an individual gradually accumulates       funds over time to meet a future obligation. Similarly, with early settlement, the borrower proactively pays off their loan             before the agreed-upon term.
     
      i) Click on the post button that is on the accrual list


      ii) The system will give you a prompt that  will confirm the posting of that payment.


      iii) Click on the 'YES, POST" button to post the loan. A notification will come up to confirm the loan payment is posted.

      iv) You can reverse the post as well by clicking the reverse button on the posted payment


      v) You will get a confirmation prompt to reverse the posted payment of the loan.



















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