The Loan Types page allows you to specify all the loan types that your company offers.

 

To add a new loan type, click  and then perform the following steps:

 

§  Enter the Name of the loan type;

§  In Name 2 you can enter the name of the loan type in the second language of the system as well;

§  Specify the Status of the loan type (Active or Inactive);

§  Specify the Account Number for this loan type. Accordingly, all amounts concerned with this loan type will be held in this account. Accounts can be defined through the Chart of Accounts page of the General Ledger module;

§  By default, the customer’s account will be affected as well with any loan transaction performed. However, if you want to create a separate account for customer loans taken, then you need to check-in the Create Account checkbox and then specify the main account that will hold the newly created customer loan account;  

§  Click  to save your work.

 

 

Related Topics

Setup