Choose Associated Loan Types

Explanation

This activity is used to select a contribution which is associated with a loan. This selection serves repaying the loan by assets accumulated in the contribution.

Prerequisites

In order to perform this activity, a loan is required to be associated with a contribution in the system.

System Effects

An amount of money accumulated in a contribution is used to repay a loan

Window

Loans and Contributions

Related Window Descriptions

Loans and Contributions

Procedure

1. Open the Loans and Contributions window and find an employee for whom the loan can be repaid by the contribution.
2. Go to the Contributions tab and select a contribution which you want to use for the loan repayment.
3. Right-click and click the Loan Repayment option.
4. In the Loan Repayment wizard, select check boxes for loan installments in the Repaid column which can be repaid with the contribution and click OK.
5. If any errors occurred in the repayment process, right-click and click the Cancel Repayment option in order to revert the process.