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Repay Arrears from Savings

This functionality allow a Loan Performer user to pay loan that are due and in arrears from their savings.

How to Repay Arrears from Savings

To Repay Arrears from Savings go to Loans/Repay Dues and Arrears from Savings and a screen like the one below appears:

• Only loans due/in arrears as at: Indicate the particular date on which to repay the loans in arrears in the corresponding text box 'Only apply to loans in arrears as at".  All the loans in arrears as of that date will be shown in the scroll window at the bottom of the screen.
• Only for credit officer: Select from the drop down box a particular credit officer from whose loan portfolio you want repay dues and arrears from Savings. You may tick the Check for all option in order to have the dues and arrears displayed for all credit officers. Credit officers need to have been registered under System Configuration/Users/Add a User then choose the function of credit officer.
• Only for loan fund: From the drop down box, select a particular loan fund from whose loan portfolio you want repay dues and arrears from Savings. You may tick the Check for all option in order to have the dues and arrears displayed for all funds. The Loan Fund is set at Menu System/Configuration/Funds.
• Minimum arrears day: Enter into the field provided the minimum days in arrears beyond which
• Use minimum balances: When this option is ticked then only the minimum savings balances of selected savings product will be available to offset the loan dues and arrears.
• Savings Product : Select the savings product from the corresponding drop-down list menu e.g. “Free Savings”. This product should have been defined under the Systems/Configurations/Products menu.

Note:
1. You have to select the client type ie. individual or group or all to repay dues and arrears from Savings.

2. You can also repay only particular loans in arrears by ticking the corresponding checkbox or all loans by marking the check box

3. When "Transfer for all loans" is selected then the system will repay dues and arrears from Savings for all loans You need to ensure there for that the savings in the selected savings product are sufficient to meet the loan payments.

• Allow paging: Tick this option and the display will be structured according to pages in stead of just one that runs down as one. Only when this option is selected will the pages alert become visible e.g. "Pages (1/1)" in green
• Refresh: This option allows you to display the loans due according to the criteria chosen for instance those by number of days in arrears, for a particular fund or product.

To save the data, press the button Save and close the dialogue box.

Related Topics

Contact LPF live support for more information
This service requires an Internet connection.