Difference between revisions of "Line of Credit Maintenance"

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=='''Overview of IL802'''==
 
=='''Overview of IL802'''==
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Line of Credit Maintenance may be used either to establish a new line of credit or to modify an existing line of credit.
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* From the DDI Connect main menu, double-click Financial Services
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* Double-click Line of Credit
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* Double-click Transactions
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* Double-click Line of Credit Maintenance. You will see this screen:
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[[File:LOC Maint 1.png]]
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=='''Adding a New Line of Credit'''==
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To add a new line of credit, click the Add button on the toolbar. Your screen will now look like this:
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[[File:LOC Maint 2.png]]
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There are several tabs available on this screen.
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===Summary tab===
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The Summary tab appears as such:
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[[File:LOC Maint 3.png]]
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The following fields are available on this screen:
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{| class="wikitable"
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|-
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! '''Field''' !! '''Description'''
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|-
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| '''Credit limit''' || Maximum amount that can be advanced to the borrower
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|-
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| '''Account''' || Type the borrower's account number
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|-
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| '''Last interest post date''' || Example
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|-
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| '''Last advance''' || Example
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|-
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| '''Credit balance''' || Any advanced dollar amount yet to be repaid for this line of credit
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|-
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| '''Interest due month''' || Monthly interest due on this line of credit
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|-
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| '''Interest now posted''' || Interest currently posted to this line of credit
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|-
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| '''Actual interest due''' || Accrued but unpaid interest balance for this line of credit
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|-
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| '''Due amount''' || The total amount of monthly interest calculated at the end of each month less the total interest amounts associated with each line-of-credit payment received. At the end of each month the interest attributable to that month is calculated, interest is deemed due by the beginning of the next month. This gives the borrower 30 days to send in payment before the interest amount is considered delinquent
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|-
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| '''Refund amount''' || Current refund balance for this line of credit
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|-
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| '''Maintenance fee due''' || Current maintenance-fee balance for this line of credit
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|}
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To enable the additional fields on this screen, enter the credit limit and account information, then click Save. Now, click Edit. The additional fields activate:
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[[File:LOC Maint 4.png]]
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===Amounts tab===
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When you click the Amounts tab, you will see this screen:
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[[File:LOC Maint 5.png]]
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The following fields are available on this screen:
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{| class="wikitable"
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|-
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! '''Field''' !! '''Description'''
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|-
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| Example || Example
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|-
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| Example || Example
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|-
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| Example || Example
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|-
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| Example || Example
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|-
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| Example || Example
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|-
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| Example || Example
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| Example || Example
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|-
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| Example || Example
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| Example || Example
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|-
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| Example || Example
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|}
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===Settings tab===
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===Routing tab===
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===Support tab===
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=='''Editing an Existing Line of Credit'''==
  
  
  
 
[[Category:Line of Credit]]
 
[[Category:Line of Credit]]

Revision as of 16:17, 7 September 2012

Overview of IL802

Line of Credit Maintenance may be used either to establish a new line of credit or to modify an existing line of credit.


  • From the DDI Connect main menu, double-click Financial Services
  • Double-click Line of Credit
  • Double-click Transactions
  • Double-click Line of Credit Maintenance. You will see this screen:


LOC Maint 1.png


Adding a New Line of Credit

To add a new line of credit, click the Add button on the toolbar. Your screen will now look like this:


LOC Maint 2.png


There are several tabs available on this screen.


Summary tab

The Summary tab appears as such:


LOC Maint 3.png


The following fields are available on this screen:


Field Description
Credit limit Maximum amount that can be advanced to the borrower
Account Type the borrower's account number
Last interest post date Example
Last advance Example
Credit balance Any advanced dollar amount yet to be repaid for this line of credit
Interest due month Monthly interest due on this line of credit
Interest now posted Interest currently posted to this line of credit
Actual interest due Accrued but unpaid interest balance for this line of credit
Due amount The total amount of monthly interest calculated at the end of each month less the total interest amounts associated with each line-of-credit payment received. At the end of each month the interest attributable to that month is calculated, interest is deemed due by the beginning of the next month. This gives the borrower 30 days to send in payment before the interest amount is considered delinquent
Refund amount Current refund balance for this line of credit
Maintenance fee due Current maintenance-fee balance for this line of credit


To enable the additional fields on this screen, enter the credit limit and account information, then click Save. Now, click Edit. The additional fields activate:


LOC Maint 4.png


Amounts tab

When you click the Amounts tab, you will see this screen:


LOC Maint 5.png


The following fields are available on this screen:


Field Description
Example Example
Example Example
Example Example
Example Example
Example Example
Example Example
Example Example
Example Example
Example Example
Example Example





Settings tab

Routing tab

Support tab

Editing an Existing Line of Credit

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