Contract and billing information
These pages show how your company is billed for using LoanPro. They're divided into two groups, Contract & Pricing and Billing & Statements. To reach them, first click on your user icon in the top right of LMS, then click Account.
Contract and pricing
Contract and pricing is broken down into five pages:
- Pricing table
- Signature history
- Contract
- Subscription
- Add-On Store
Pricing table
This page is purely informational, showing you information on the different items that you are billed for.
The Pricing Table is divided into several sections, and gives information on the current pricing. It also provides pricing information for your Account Tiers, Membership fees, and Usage fees.
Signature history
In order to use LoanPro software it’s required that you agree to our terms of service. The signature history is a list of which users in your company have agreed to the terms of service, which version was agreed to, the date when the user agreed, and the IP address they used.
Contract
Here you can view, save, or download a PDF of your contract.
Subscription
On the subscription page, you can view details about your subscription status as well as the dates for contract activation, expiration, automatic renewal, and the deadline for opting out of automatic renewal.
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Add-on store
The LoanPro Store is an area of the software where you can add loan servicing tools. To reach the store, log into LMS and click on your user icon in the top right corner of the screen. Then go to Account > Contract & Pricing > LoanPro Store.
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There you'll see a list of all the available add-ons. Initially, this only includes Advanced Connections, but we'll be adding more soon. If you click on the 'See More' button, you'll get a summary of what the upgrade does and how much it will cost.
When you're ready to upgrade, just click the 'Get' button. This will generate a contract that you can fill out and submit in your browser. Once the contract is submitted, the premium feature will be turned on within your account. You will now be able to use the feature.
Billing and statements
Billing and statements are broken down into several pages:
- Summary
- Statements
- Payment profiles
- Transaction details
- Usage details
- Billable account details
- Line of Credit (LOC) daily maintenance
- LMS daily maintenance
Summary
The Company Billing Summary shows numbers and dates that affect your company billing. The summary is divided into four tabs.
Pricing Summary
The “Pricing Summary” offers a quick view of:
- The current amount due on your company account
- The estimated amount due on the next billing process date
- Pricing
Important dates
The “Important Dates” page offers a quick view of several dates recorded by the system. These are:
- Contract Activation Date
- Contract Expiration
- Contract Automatic Renewal Date
- Opt Out of Automatic Contract Renewal Deadline
Data storage information
This tab offers a quick view of your data usage and any potential charges stemming from data usage. These include:
- Total S3 Data stored
- Free Data Storage Included
- Amount of Data Charged For
- Data Storage Cost Per MB
- Estimated Storage Monthly Cost
Number of accounts details
This section gives you a quick breakdown of your accounts currently in the system, including:
- Total number of accounts
- Number of live accounts
- Number of archived accounts
- Total billable accounts
Statements
The statements area lets you view billing data for your company. To view your billing data, first choose the month from the month dropdown at the top of the page.
This section gives a breakdown of the costs for each LoanPro service used. The first line shows the total for all services. The second line shows the total incurred for the monthly membership fee. The third line shows a breakdown for monthly billable accounts.
If you click the 'Invoice' button you will be shown how many billable accounts you have, and the cost per billable account.
Within the "Monthly usage fee" section you can view the usage and transaction details for each subsection adding into the monthly usage fee.
Payment profiles
Here you can view or update your company's payment profiles.
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Add a new profile
To add a new payment profile, click Add. To edit an existing profile, click the edit icon at the right of the listing for the payment profile you want to edit.
Most of the data that should be entered here is standard payment profile data, but you will be asked to enter a Payment Profile Title so you can distinguish this payment profile from other payment profiles you may add.
Once the data has been entered or updated to your satisfaction, click Submit. If you check the AVS Address Verify box, the address you entered for the card will be checked against the AVS (Address Validator system) to make sure it matches the one on file for the card. This should help prevent future rejections based on an address mismatch.
After a new payment profile is saved, enter the payment profile name in the field presented and click Save.
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Transaction details
The transaction details page shows you the current amount due on your LoanPro account, and a breakdown of each charge on your company account.
Use the search bar at the top of the transaction listing to restrict your search to a specific date range.
Alternatively, select one of the predefined ranges from the dropdown in the ‘Results (All)’ field. The options are: All, 15 Days, 30 Days, 60 Days, 90 Days, 180 Days, and 365 Days. Once the date range is selected, the results will pull automatically.
For each transaction you will see the following data:
- Applied On – The date the charge applied on your company account.
- Type – The type of charge. This will tell you the category of the charge.
- Description – This is a description of the charge.
- Amount – This is the amount of the charge.
- Amount Due – This is a running total of the amount due on your account.
- IP – This is the IP address from which the charge was created.
Making payments
You can also make a payment from this screen. Simply click 'Process Payment' in the top right of the screen.
Enter the payment data in the following fields:
- Date – The date you are processing the payment (most likely today).
- Amount – The amount of the payment.
- Description – Add a description to help you remember this payment.
After entering the Transaction Information, select a payment profile from the Payment Information section below.
After you enter this information, click 'Save'. If you don’t make payments in this way, a payment for your outstanding balance will run automatically on the first day of each month.
Usage details
The usage details tab lets you see usage broken down month-by-month. Select the month you wish to view using the dropdown menu in the upper left-hand corner of the page, and the appropriate information will generate in the table below. The table is composed of a daily accounting of loan account creation, deletion, archival, resurrection, restoration, and data storage. An example of effectively using this tab would be tracking account creation to determine which marketing methods yield the most new loans.
Additionally, if you would prefer to view the information in graph format, select the toggle icon in the upper right-hand corner of the page. Once selected, you will be able to view your usage for the selected month in graph format.
Billable account details
The Billable Account Details tab gives you a detailed daily breakdown of your company’s billable accounts. Before diving into the specifics of tab itself, it is important to understand the billable account structure. The billable account details are formatted in a table that includes columns for each billable metric. In the upper left corner of the page, there's a dropdown allowing you to select the month and year you would like to see the billable account details for.
In the top right corner, two icons let you configure how the data is presented. The hourglass toggles between a daily or cumulative view, with daily showing the details for each individual day, and cumulative adding up the totals one day at a time. Clicking the jagged line icon will switch from a table to a line graph, which can likewise show daily or cumulative sums.
What is a billable account?
“Billable Account” means the number of Accounts that are charged a monthly per unit fee. The Billable Account number will be calculated by taking the greatest number from the following metrics for the applicable billing period.
- Live Accounts — Highest Number of Live Accounts during the billing period. A live account is one that has not been archived or deleted.
- Customer Account Limits — If the number of Customers at the end of the billing period is more than a multiple of two and one tenth (2.1) of the sum of the number of Live Accounts plus Archived Accounts at the end of the billing period, then this value is calculated as the number of Customers at the end of the billing period divided by 2.1; otherwise this value shall equal zero (for purposes of calculating the Billable Accounts).
- AutoPay Limits — If the number of AutoPays processed during the billing period is more than the value from subsection (a) for that billing period multiplied by four (4), then this value is calculated as the number of AutoPays processed during the billing period divided by four (4); otherwise this value shall equal zero.
- Account Modification Tool Limits — If the number of Account modifications performed during the billing period using the Account Modification Tool is more than ten percent (10%) of the number found in subsection (a) for that billing period, then this value is calculated as the number of Account modifications performed during the billing period multiplied by ten (10); otherwise this value shall equal zero.
- Servicing Queue Limits — If the total count of occurrences Accounts are processed via a Servicing Queue tool is greater than the number found in subsection (a) for that billing period multiplied by twenty-five (25), then this value is as the total count of occurrences Accounts are processed via a Servicing Queue divided by twenty-five (25); otherwise this value shall equal zero.
- Custom Form Limits — If the total number of custom forms generated during the billing period is greater than five (5) times the number in subsection (a) for that billing period, then this value is calculated as the total number of custom forms generated during the billing period divided by the number from subsection (a); otherwise this value shall equal zero.
- Rule Evaluation Limits — If the total number of Rule Evaluations that the system performs during the billing period exceeds Seven Hundred Fifty (750) times the number found in subsection (a) above, then this shall be calculated as the total number of Rule Evaluations performed during the billing period divided by Seven Hundred Fifty (750); otherwise this value shall equal zero.
This information is available at a glance by hovering over the “
” icon located to the right of the “Total Billable Accounts” header.
For any questions regarding your billable accounts, please refer to the SaaS agreement located on the My Account > Contract & Pricing > Contract tab.
Daily maintenance
The two daily maintenance pages show how LoanPro updates accounts each night. For more details, see our full Daily Maintenance article.
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