Getting Started in Loans

One of the most challenging aspects of setting up any new system is understanding where to go - and what to do - first. With DDI Connect, if you are just getting started, you will have a DDI staff member assisting in the implementation and guiding you through each step of the setup process. However, it might be helpful to know what areas of the system should be set up in which order. That is where this document comes in.

Step 1: Setting up Chart of Accounts (FW02)

It might seem rather funny, talking about the General Ledger Chart of Accounts in a loan document. However, since so many of the loan settings are tied to specific General Ledger (GL) accounts, it is critical that this is your first step. For information on how to set up the Chart of Accounts, reference this page: Chart of Accounts Setup

Step 2: Setting up Loan System Settings (IL01LN)

The next step is to establish your overall loan system settings. This will control things such as application fees, late fees, and default general ledger accounts. For information on how to set up these screens, please reference this page: Loan System Settings

Step 3: Setting up Loan Type Settings (IL440)

Next you will set up the loan types that your organization will provide. These settings establish the interest rate, amortization terms, and general ledger accounts related to the specific types. For information on how to set up these screens, please reference this page: Loan Type Maintenance

Step 4: Setting up Loan Adjustable Mortgage (IL450)

This step is only necessary if it is applicable for your organization. Loan Adjustable Mortgages allow you to set up minimum and maximum terms with percentages for each term. For information on setting up these screens, please reference this page: Loan Adjustable Mortgages

Step 5: Setting up Loan/Type/GL Maintenance (IL460)

Again, this step is only necessary if it is applicable for your organization. This screen allows you to set specific GL numbers for loan types, based on the interest rate currently being paid. For information on how to set up these screens, please reference this page: Loan Types/Rates/GL Accounts

Step 6: Setting up Interest Rate/Support Percent (IL461)

This is another step that is only necessary if it is applicable for your organization. This screen lets you establish tiered interest rates applicable for individual loans, based on the investment amounts supporting them. For information on how to set up these screens, please reference this page: Loan Interest Rates/Supporting Percentages