A Beginner's Guide to Reports
If you're new to LoanPro or just haven't ventured into the Reports tab yet, it might be a bit intimidating at first glance. There are dozens of different reports you can run, and each offers options to filter the data and view different results in different ways.
This article will go over the four categories of reports, explain some of the most common reports, and walk you through the process of filtering data and generating a report of your own. This article will really just hit the basics, though; for more information, see all the articles in our Reports section.
The Reports Tab
Most of LoanPro's reports are found in the Reports tab, which you can find near the top of the screen in the LMS UI. (You can also get reports on individual loans within Loan Manager: see our folder on Loan Reports.)
When you click Reports, you'll get four options in the drop down:
- Servicing – Delinquency and insurance reports.
- Transaction History – All the reports related to transaction history. This is the largest category by far with 20 different reports available.
- Forecast – Reports for of payments that were scheduled in the past or are slated for the future.
- Administration – These reports are geared toward managers. They offer broad, big-picture data that can be used to steer your entire team.
The Most Common Reports
Commonly used reports include
- Transactions > Payment Breakdown – The Payment Breakdown report is the most informative payments report. This report gives a breakdown of payments that have been made on customer accounts within your company over a date range.
- Administration > Historical Loan Archive – The Historical Loan Archive allows you to pull specific snapshot data from the loan as it existed on a specific date. For example, if you want to know what the Principal Balance was as of a specific date, this report has this information.
- Administration > Reverse Calculated Loan Archive – This report is similar to the Historical Archive, with a crucial difference: the Historical Archive shows daily loan data as it actually existed on the account by taking a snapshot of the data each day, but the Reverse Calculated Archive uses the numbers as they currently exist on a loan to calculate what the numbers would have been in the past.
- Administration > Custom Query – The custom query was designed to let you export values from LoanPro, chiefly present static values and calculated numbers. You can customize which data and the order you want it formatted in a downloadable .csv file.
Generating a Report
Whatever report you want to generate, the process is pretty similar. Also, you can find explanations of all our reports here in the Reports Tab section of our knowledge base. This article will show you how to do a Scheduled Payments report, which shows all the payments that were scheduled within a given timeframe. You can then compare these figures with your actual collection data to see how effective your collection methods are.
In the LMS UI, navigate to Reports > Forecast > Scheduled Payments. You'll see a screen like this:
The left side of the screen shows all the filters you can search with, from keywords and date ranges to status, portfolios, or other indicators. Enter all the filters you want, then click the magnifying glass icon next to the search bar.
The right side of the screen shows the results from your search. The table lists where the money is actually coming from, like interest, principal, or escrow. On the right, a pie chart breaks down the same information.
Below are listed all of the specific loans that your search pulled up.
On the right, note these icons. They're not all available on every report.
Hovering over each will display their name, and here's a description of what each does:
- Show/hide columns – The three vertical columns will let you select what loan information is displayed in the list of loans below.
- Generated Reports – On some reports, this icon is a machine knobs and dials, and on others, it's a book. Clicking it will bring up the reports for this search.
- Plot on Google Maps – The pinpoint icon opens up Google Maps, with points displayed for each primary customer's address. This can help you easily visualize where your loans are. This geographic data could help with many projects, such as planning for repossessing collateral or determining where marketing campaigns have been successful.
- Show bar chart – This will show the data using a bar chart.
- Show pie chart – This shows the data with a pie chart.