Record Repayment Schedule

This page allows you to record the installment payment details related to loans.

Select the “Record Repayment Schedule” activity under the “Loan Transaction” business component.

The “Record Repayment Schedule” page appears.

Enter the following fields:

Loan No.	The loan number created in the “Maintain Loan Details” activity to be entered here for which the payments have to be processed. Help facility available
Loan Amount	The total loan amount sanctioned will be displayed here.
Currency	The currency of the loan will be displayed here.
No. Of Installments	The number of installments in which the loan amount is to be repaid would get displayed here.
Interest Rate ID	The id assigned to the rate of interest at which the loan is taken would get displayed here.
Frequency	The frequency at which the installments to be paid if the “Entity Type” is selected as “Fixed” under “Maintain Loan Parameters” activity. If the entity type selected is “Variable”, this field would be displayed with no value.
Payment Start Date	The date on which the 1^st installment to be paid can be entered here.

Click the “Get EMI Schedule” push button to retrieve the EMI related details based on the number of installments entered.
Enter the following details in “Payment Schedule” multi line box:

Schedule No.	The schedule number gets updated based on the number of installments specified.
From Date	The start date of the particular installment to be captured here. Mandatory.
To Date	The end date of the particular installment to be captured here. Mandatory.
Principal Component	The amount of principal component in the installment amount to be paid to be captured here.
Interest Component	The amount of interest component in the installment amount to be paid to be captured here.
EMI Amount	The total installment amount to be paid to be captured here.
Due Date	The due date of payment of the respective installment number to be captured here.
Status	The status of the EMI would get displayed here as Fresh/ Paid.

Click the “Compute” push button and the system updates the following fields in the “Total” group box:

Principal	The total of principal amount from all the installments would get updated here.
Interest Amount	The total of interest amount from all the installments would get updated here.
Total Amount	The total amount from all the installments would get updated here.

Click the “Save” push button to save the entered details.

The status of the document remains the same.

The login ID of the user gets updated under “Created By” field and the created date gets updated under the field “Created Date” if the details are entered for the first time.

The login ID of the user gets updated under “Last Modified By” field and the modified date gets updated under the field “Last Modified Date” if the details are getting saved from the second time onwards.

To proceed, carry out the following

Select the “Record Liability Details” link at the bottom of the page to record the loan related provisional entries through journal vouchers.
Select the “Process Loan Repayments” link at the bottom of the page to enter the loan repayment details.
Select the “Attach Notes” link at the bottom of the page to record any notes related to the loan document.
Select the “Collaborate” link at the bottom of the page to record or to view the observations or comments or discussions regarding the document.

Prerequisites

4 Loan No must be created in the “Maintain Loan Details” activity of the “Loan Transaction” business component