Note that you can only have one cheque book for each branch. at a time.
Note:
1. Loan Performer allows you to offer current accounts with cheque books to your clients. The account holders will be able to withdraw money from their accounts or to pay third parties within the MFI. All you have to do is to create a savings product and indicate the product allows cheque transactions by activating the check box “Product has cheque books” under System Configuration/Savings/Savings Accounts Settings.
3. To issue a cheque book or a cheque leaf to a client, go to the menu Savings/Cheque Transactions/Issue cheque books or single cheque leaf. These cheques are for internal use within the MFI and don’t have to go through the clearing house of the Central Bank since MFIs and SACCOS are not regulated by the Central bank. The cheque transactions updates the account of the client immediately and there will be no need to clear the cheque.
4. To make a withdrawal using an internal cheque within the institution under the menu Savings/Savings Withdrawal - Transaction Information, the LPF user has to tick the option "Cheque", then enter the cheque number and the amount to withdraw if the bearer is the account holder. In this case the cheque is just like a savings withdraw slip. However, if the account holder is not the cheque bearer, then the third party has to take the internal cheque to the issuer's MFI to be paid. In this case the LPF user contacts the issuer before honouring it under the menu Savings/Cheque Transactions/Honour Cheque Payments (There must be sufficient funds in the account). Then the user makes a withdrawal by cheque if the beneficiary wishes to have cash or a deposit by cheque on to the beneficiary's account. In case of insufficient funds, you can dishonour the cheque under the menu Savings/Cheque Transactions/Stop Cheque
5. However, if it is an external cheque i.e if the MFI disburses a loan by cheque to a client from it's bank or if a client makes a loan repayment from his bank by cheque, then the bearer has to present the cheque to his bankers and wait for some days for the cheque to clear. At the clearing house of the central bank, the beneficiary's bank contacts the issuer's bank to clear the cheque once cleared, the LPF user will clear this cheque under the menu System/Cheque clearing (There must be sufficient funds)
6. Loan Performer allows cheque printing in batches. For example if you disburse loans to 100 clients every 10th of the month, you can automate the cheque printing. Do the disbursing to the clients before actually calling the beneficiaries and save the cheques as a batch file. The user with the appropriate access rights can then print all the cheques in the batch file at a go under System/Cheques awaiting printing. Ensure that the option "Activate cheque printing" under the menu System/Configuration/Design and print Cheques is ticked, otherwise, the cheques won't appear in the window.
7. Loan Performer allows you to design your own cheques and define the printer to use to print them under the menu System/Configuration/Design and print Cheques. LPF comes with a cheque template as a sample you can use and the designing is done inside LPF by clicking on the button "Modify cheque template" or outside in the LPF installation directory (C:\LPF816\External Files\Report Templates). Note that the actual cheque books are printed using a special printer outside Loan Performer. You need to find a service provider in this field. With Loan Performer, you only print the necessary information on the cheque leaf inserted into the ordinary printer such as the cheque beneficiary and the amount. For example Loan Performer allows you to disburse loans by cheque to your clients.
8. Note that to work with cheques in Loan Performer, you should have issued a branch cheque book under the menu Support Files/Branch Cheque Book.
10. All cheques internal and external must be cleared under the menu System/Cheque clearing.
How to set branch cheque book parameters
To set branch cheques book parameters you go to Support Files->Branch Cheque Book and a screen like the one below shows up:
Branch: Each cheque book issued is for a particular branch. From the drop down select the branch for which you are issuing the cheque book, e.g., "KA".
Issue date: Enter the date when the cheque book issued, e.g., "01/01/2014".
Next No: This field will automatically be updated with the next available cheque leaf number after a cheque leaf has been issued to clients at Savings->Cheque Transactions->Issue Branch cheque books/Single Cheque leaf.
Stopped: If you wish to stop a branch cheque book tick this check box. This means that you will not be able to issue single cheque leaves to clients at Savings->Cheque Transactions->Issue Branch cheque books/Single Cheque leaf.
From No: ......... to: ........: Enter the range of the cheque numbers assigned to this cheque book, e.g., "From 1 to 100 ".
Click on the Add command button to add the branch cheque book and repeat this for all other branch cheque books.
You can click on the Print button to view\print the issued branch cheque books and keep them for future reference.
Then click on the Close button to exit the menu.
How to delete\modify branch cheque book parameters
To delete\modify a branch cheque book you go to Support Files->Branch Cheque Book and a screen like the one below shows up:
From the list of the displayed branch cheque books in the scroll space, click on the one that you want to delete\modify. The variables for the selected branch cheque book will be displayed in the various fields.
To modify the cheque book make the necessary changes and click on the Update button. To delete the branch cheque book click on the Delete button.
You can click on the Print command button to view\print the branch cheque book parameters and keep them for future reference
