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Table of Contents (Online Help)

Fund Contributions

If on the Loan Revolving Funds page you specified that Loan Performer should check the availability of funds at some point of entering loan data, you will not be able to enter the loan application and/or loan disbursement before contributions (Fund deposit) have been made into the fund.

How to make a Funds Contribution

To add a funds contribution you go to System/Configuration/Funds and the following screen appears:

Select the fund for which you wish to make a contribution, e.g., "CCS" and then click on the Contributions tab to make the contributions. A screen will be displayed as follows:

• Add Transactions for: The name of the chosen fund will automatically be displayed in this textbox, e.g., "CCS".
• Activate if deposit: Tick this checkbox if you are making a fund deposit. If you are making a withdraw, then leave the checkbox unticked. Ticking this textbox makes the Short Description textbox default to "Deposit CCS". Leaving it unticked will make it to default to "Withdraw CCS".
• Transaction Date". This is the date when a deposit or withdrawal of funds has been made, e.g., "09/09/2013". It cannot be a date before the opening of the fund or after the login date.

• Transaction No.: This textbox is in read only mode and will automatically be updated by Loan Performer after you have saved the transaction, e.g., "1300000008". It is attributed automatically and is not modifiable.    
• Voucher: Enter the voucher number.
• Amount: Enter the transaction amount, e.g., "100,000,000".
• Short Description:The description of your transaction will be entered automatically e.g., "Deposit CCS Fund", however you can change it to suit your situation.

Note: If you have chosen the option for the fund transactions to be booked into General Ledger under theLoan Revolving Funds  tab, then you will be able to view the payment modes for the Deposits/Withdrawals to/from the fund.

Select the mode of the transactions from the available options that include Cash; Cheque; Transfer to/from Bank; Transfer to/from Account.

If it is a cash transaction, mark the cash radio button and select the relevant cash account. This should have been set at System ->Configuration ->Cash Accounts

If it is a cheque transaction, mark the cheque radio button and the Check particulars window will pop up. Enter the relevant cheque particulars in the pop-up screen.

Press the Save button to save the information on the cheque or the Closebutton to close the window without saving.

Please note that you will be able to enter transactions by cheque only after you have defined bank accounts at System->Configuration->Banks menu and that the loan transactions for this fund will become possible only after you have cleared the cheque at the System->Cheque Clearingmenu.

The Transfer to/from Bank allows you to make a transfer of funds from one of your Bank accounts to another. Mark the Transfer to/from Bank radio button and the following screen will be displayed:

In the drop-down window you will see the list of your Bank accounts. Highlight the one you want to make a transfer to/from. The bank accounts should have been defined at the System/Configuration/Banks.

The option Transfer to/from Account allows you to make a transfer of funds from one of your GL accounts to another. Mark the Transfer to/from Account radio button and the following screen will be displayed:

In the drop-down window you will see the list of your GL accounts. Highlight the one you want to make a transfer to/from.

Please note that loan disbursements from the fund and loan repayments do not affect the fund account. What you enter here is only the fund contributions from the donors, the borrowed amounts for on-lending, your internal funds which you use for giving out loans and the withdrawals of the mentioned funds if any.

Please note that a fund has a unique starting date, which is set on the Loan Revolving Funds page, but it can have many transaction dates at the Contributions page.

Loan Performer will only allow applications or disbursements to pass if at the loan application and/or disbursement date the loan amount is less than the difference between the balance on the fund account on this date and the principal outstanding for loans disbursed from this fund on this date.

You can find the information on how your funds have being used in particular periods from the Fund Utilization Report.

To save transaction, press the Add button.

Related Topics

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