Accounts: Payment - Loan History
The loan payment history will show a complete loan payment history, including all of the payment due dates for the loan.
A yellow highlighted line will convey the current due date (which has not yet been paid). Scroll right to see the payment breakdowns.
A light red highlighted line is the payment for which an NSF would reverse.
The "Days" column is the number of days before (negative) or after (positive) the due date that the payment was made. Negative days are good!!
The following reports are available from this screen:
Loan Payment History. This will show only the payments that have been made.
Loan Payment Schedule. This will show all payments made, plus the due dates of the entire schedule.
Payment Receipt. This is a reprint of the payment receipt.
Loan Statement. A current statement of account for the loan.
If you need to delete the last payment posted to this deal, then click the Purge Last Payment button. The payment will be deleted and the Next Due Date will be properly recalculated for you.
Payments may be manually added or removed from a payment batch via the Add/Remove from Batch button.
Payments to this loan may be posted via the Post Payment button.
Use the Create Journal button to create a journal or reverse journal for the payment line selected.
This is a list of all of the invoices that have been created for this deal. If the invoice's image file exists, you may double click on the invoice in the grid to see it.
This shows which payment paid for which due date. NSFs and manual service charges will appear as additional amounts due.
Alternate Late Fees
Normally, late fees charged against a loan add to the principal balance. Alternate Late Fees are held separately and do not affect any loan balance calculations.
This is a manually tracked system. If you collect a late fee, you must post it separately to this system. For example, if a borrower pays $1,050.00 and $50.00 is a late fee, then you would post $1,000.00 as a loan payment and $50.00 to the Alternate Late Fees.
If you choose to use Alternate Late fees, then you should have ALMSys Support alter your loan statements to reflect these fees.
To turn on Alternate Late Fees, you must go to Administrative - Overall Control and check the box for Alternate Late Fees.
When these fees have been turned on, then the loan statement process will place late fees charged into the Alternate Late Fees screen.