Difference between revisions of "Line of Credit Maintenance"
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! '''Field''' !! '''Description''' | ! '''Field''' !! '''Description''' | ||
| + | |- | ||
| + | | '''Advanced YTD''' || Total dollar amount advanced to the borrower during the current year | ||
| + | |- | ||
| + | | '''Advanced total''' || Total dollar amount advanced to the borrower on this line of credit | ||
| + | |- | ||
| + | | '''Adv fees paid YTD''' || Total advance fees paid by the borrower for the current year | ||
| + | |- | ||
| + | | '''Adv fees paid total''' || Overall total advance fees paid by the borrower | ||
| + | |- | ||
| + | | '''Maint fee paid YTD''' || Total maintenance fees paid by the borrower during the current year | ||
| + | |- | ||
| + | | '''Maint fee paid total''' || Total maintenance fees paid by the borrower on this line of credit | ||
| + | |- | ||
| + | | '''Principal paid YTD''' || Total principal paid by the borrower during the current year | ||
| + | |- | ||
| + | | '''Principal paid total''' || Total principal paid by the borrower on this line of credit | ||
| + | |- | ||
| + | | '''Interest paid YTD''' || Total interest paid by the borrower during the current year so far | ||
| + | |- | ||
| + | | '''Interest paid total''' || Total interest paid by the borrower on this line of credit | ||
| + | |} | ||
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| + | |||
| + | |||
| + | ===Settings tab=== | ||
| + | |||
| + | |||
| + | When you click the Settings tab, you will see this screen: | ||
| + | |||
| + | |||
| + | [[File:LOC Maint 6.png]] | ||
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| + | The following fields are available on this screen: | ||
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| + | ! '''Field''' !! '''Description''' | ||
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| + | | Example || Example | ||
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Revision as of 16:25, 7 September 2012
Contents
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:
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:
There are several tabs available on this screen.
Summary tab
The Summary tab appears as such:
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:
Amounts tab
When you click the Amounts tab, you will see this screen:
The following fields are available on this screen:
| Field | Description |
|---|---|
| Advanced YTD | Total dollar amount advanced to the borrower during the current year |
| Advanced total | Total dollar amount advanced to the borrower on this line of credit |
| Adv fees paid YTD | Total advance fees paid by the borrower for the current year |
| Adv fees paid total | Overall total advance fees paid by the borrower |
| Maint fee paid YTD | Total maintenance fees paid by the borrower during the current year |
| Maint fee paid total | Total maintenance fees paid by the borrower on this line of credit |
| Principal paid YTD | Total principal paid by the borrower during the current year |
| Principal paid total | Total principal paid by the borrower on this line of credit |
| Interest paid YTD | Total interest paid by the borrower during the current year so far |
| Interest paid total | Total interest paid by the borrower on this line of credit |
Settings tab
When you click the Settings tab, you will see this screen:
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 |
| Example | Example |
| Example | Example |
| Example | Example |
| Example | Example |
| Example | Example |
| Example | Example |
