Payment History
TrakLoan keeps a history of account payments that you can view on the screen, edit, and print. A payment history is a record of previous transactions. If you find a mistake after posting you can correct it through the payment history screen. The change won’t show up on your posting report though, so you must indicate the change by a memo attached to the next report.
To view and edit payment histories, use the View | Payment History menu se- quence or click the Payment History tool on the toolbar.
The payment history screen (Figure 12) shows payments made on the account plus the results of interest calculations.
The Next Rate field shows the interest rate that will be used for the next interest rate calculation.
Figure 13 Edit Payment Screen
Editing an Entry in the Payment History
To edit an entry in the payment history, click the entry to be changed in the pay- ment history screen. The Edit Payment screen (Figure 13) will pop up and display the entry you clicked.
To correct the date, amount or check number enter the correct value and click [OK].
If this was a returned check, click the Bad Check button to bring up the Edit Bad Check screen (Figure 14).
Figure 14 Edit Bad Check Screen
If there was a penalty, enter the amount in the Penalty box and click [OK].
If you’re editing an exception record, the screen will look like the Edit Exception screen shown in Figure 15:
Figure 15 Edit Exception Screen
In an exception record you can edit the date, penalty and interest rate.
If there was an interest rate change, the new rate will be carried forward through all subsequent entries until you change it again with a second exception.
Making a New Entry in the Payment History
You can add an entry to a payment history for any date later than the first date in the list. To add a new entry:
- Use the File | New History E ntry menu sequence to bring up the new history entry screen (Figure 16).
- Click the appropriate button in the Exception Type box.
- Enter the information for the new entry.
- Click [OK].
If you add a new entry to the payment history TrakLoan recalculates all entries from that point on and changes the current entries for Interest Paid This Year, Total Unpaid Interest, and Remaining Balance. If you enter an exception with an interest rate change, the new rate is used to recalculate all entries after the ex- ception.
Figure 16 New History Entry Screen
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