Page Comparison

From the Loan Contract menu select Overview.

From the sidebar select Loan Contract then Overview.

Lists basic details about the contract, including application and contract numbers, contract stage, and status. The contract number can be modified.

Displays basic repayment information for the application.

 Relevant work flow dates for the contract. To cancel a contract, enter a date into the Cancelled field.

• PPSR (Personal Property Securities Register): If all PPSR has been completed for all assets listed in the Asset list, change the Complete field to Yes.
  
  

Number and value of payments that are paid, due and not currently due. This includes any penalty amounts.

• Next Repayment: Displays details about the upcoming payment.
  
  

 If a late payment fee is applied to an overdue payment, then the Applies? field must be set to Yes and the late payment amount entered along with GST details and the frequency of the late payment fee. Typically the fee for a late payment is determined at settlement.

If penalty interest is applied to an overdue payment, then the Applies? field must be set to Yes and the penalty interest value entered along with GST details and the frequency of the penalty. Typically the penalty interest rate is determined at settlement.

It is possible that both a late payment fee and penalty interest would apply when a payment is late. If both are applied, they would appear as two separate revenue items on the Revenue/Invoice screen (see Revenue/Invoice).

The client bank account record selected for direct debit payments. Click the Account Name popup dialog button to select an account (accounts are created on the Client Accounts screen (see Client Accounts)). The Repayment Due On field can be used to determine the exact day of the month money is automatically transferred from a client's bank account. The Repayment Due On field must be greater than or equal to the Settlement Actual day.

The client bank account record selected for direct debit payments. Click the Account Name popup dialog button to select an account (accounts are created on the Client Accounts screen (see Client Accounts)). The Repayment Due On field can be used to determine the exact day of the month money is automatically transferred from a client's bank account. The Repayment Due On field must be greater than or equal to the Settlement Actual day.