Loan Extra Payment

A Borrower Has Included an Extra Payment with their Regular Payment. How Do I Apply the Extra Payment?

• From the DDI Connect main menu, double-click Financial Services

• Double-click Data Processing

• Double-click Cash Receipts Stage 1

• Enter the payment as a new batch, or as part of an existing batch. For information on Stage 1 processing, reference this page: Cash Processing Stage 1

• From the Data Processing menu, double-click Payment Processing (Stage 2)

• Locate the batch that contains the loan payment

• Click once to highlight the batch. This displays the list of items in the Detail area:

• Double-click the payment item. This activates the Transactions tab:

• Double-click Loan Transactions. This activates the Loan Transaction menu:

• Double-click Loan Payment. This launches the Loan Payment screen:

• Change the payment amount field to reflect the amount of the regular payment and click Save. You will see a message like this one:

• Click Yes. You will see a message "Transaction Successful". Click OK

• Enter the loan number again and press Enter or click Find

• The Loan Payment screen appears again. In the Payment amount field, you will see the remaining funds from the payment:

• Review the fields on the screen to verify that the amounts being applied are correct, including the type of payment:
  • If you want the remaining funds to affect the "next payment due date", you would process this payment as a Regular Loan Payment
  • If you do NOT want the funds to affect the next payment due date, you would process this payment as an Extra Payment

To choose the type of payment, click the drop down arrow to the right of the Payment Type field.

Click Save. You will receive the "Transaction Successful" message. Click OK

• You will now be returned to the Payment Processing screen. The check now shows as being fully processed: