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Charge Items

In the Charge Items window you can enter a list of reasons for charging clients on the various loan related issues. These are the reasons used for charging individual clients at Loans-clients should be reasons adopted by the organisation for charging client at Loans/Penalty/Charge for a single loan your organisation.

Note that before you can be able to view the penalties charged vs penalties paid report:

1. LPF should have been configured to charge and penalize loans under System Configuration/Loan Product Settings/Penalties Settings.

2. Also note that penalties can be configured to be charged automatically under System Configuration/Loan Product Settings/Penalties Settings the select option "Automatically calculate penalties” or “Automatically calculate penalties at logon”

3. Also note that for the loan charges to appear in the report on fees received, ensure that the loan charges are configured under Support files/show more/charge items.

4. You can then be able to enter loan charges and penalties under Loans/Penalties or Charge on a single loan and Loans/Penalties on arrears.

5. You can also be able to view the report on charges or any other fees and commissions under Portfolio Reports/Reports on Repayments/Report on Fees Received and you select the option "Loan charges" or any other charges/fees of your choice.
6. Also ensure that the GL accounts for booking Loan Charges are set at System/Configuration/Loan product settings/GL Accounts 2/2.


How to add charge items

To add the charge items you go to Support Files/Charge Item and a screen like the one below shows up:

Note that you have to define a GL account for each of the charge item that you enter at System/Configuration/Loan Product Settings/GL Accounts 2/2.

Click on the Add button to add the new charge item and repeat this for all possible charges.

You can click on the Print button to view\print the charge items and keep them for future reference.

Then click on the Close button to exit the menu.

How to delete\modify charge items

To delete\modify the charge items you go to Support Files->Charge Items and a screen like the one below shows up:

Then click on the Close button to exit the menu.

Related Topics

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