How to - The Loan Book
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The Finance Shop has an option called Loan Book which enables you to manage finance applications that you are funding. This article shows how to use the module.
You will only be able to see the functionality here if you have purchased the Loan Book module.
The following topics are covered:
- Creating the Loan Book Financier
- Creating an application for Loan Book.
- Creating the Loan Book Contract.
Creating the Loan Book Financier
The first thing that you will need to do is create the Loan Book Financier. This is done in TFS Administration.
The Financier is created in the usual way but the flag Is Loan Book Financier? is set to Yes.
Creating an application for Loan Book.
You create the applications for the Loan Book in the normal way. The difference being that you select the Loan Book Financier.
Creating the Loan Book Contract
When you have processed the application you can create the Loan Book contract;
- Select Application \ Overview.
- Click on Create Contract.
- Click OK.
Prior to creating the contract there are 3 criteria that you must meet;
- The calculations must be up to date.
- You must enter the Settlement Actual date.
- The Repayment Period must be Monthly.
If any of these criteria are not met when you click on Create Contract you will see the following warning.
When the Loan Contract has been created an additional menu option, Loan Contract, will be displayed in the Sidebar.
