|
Loan Control Report |
|
The loan control report is a powerful report which does a tally of all the new loans created, additional charges added to a loan to increase the balance on each account, and credits applied to loans to decrease the balances. The sum at the bottom shows the amount of money currently owed for all accounts in a portfolio. One thing that makes this report so useful is the dynamic interaction with the custom fields on several of the record types in Moneylender. Specific lines on the control report have data that is intentionally separated from similar records to help identify how your money accumulating and being repaid. Payoff tallies, charge offs, settlement payments and settlement credits are just a few examples of the special analysis the control report does. Setting up the control report changes some of Moneylender's default behaviors. It also means you'll have to use the custom fields in a specific way to have the report break down the funds properly. While the report's final balance will always be accurate, separating settlements and refinances from regular payments, for example, requires the custom fields have specific values. Since they are all credits, if a settlement payment appears as a regular payment it isn't the worst thing in the world, but you won't be getting the full picture the Loan Control Report is capable of showing you. For more information check out these help topics: |