Loan Summary

General

The Summary tab inside a loan is designed to give you a quick overview of the loan data. This article will go over the data available to you on the Summary tab. You do have the option to customize the loan summary view.

Sections

The Summary tab can be found inside of any loan or lease account. The tab itself is divided into four sections: Summary, Statistics, Payoff, and Notes.

1. The Summary section shows some important loan numbers. Some of the rows in this section can be expanded to give a more detail. The available numbers include:

  • Amount Due – This is the amount that is currently due on the loan. If you click the label, a breakdown of the amount due will be shown.
  • Days Past Due – This is the number of days the account is past due.
  • Next Payment Due Date – This is the next date on which a payment will come due. This will always be a date in the future. This is not the furthest in the past payment that was missed on the loan as many people assume.
  • Next Payment Amount – This is the amount of the next payment that will come due on the account.
  • Principal Balance – This is the principal balance on the loan. This number takes into account all future payments that have been made on the loan. If you would like to see the principal balance for today that only includes payments that applied to the account through today’s date, look in the reports tab of the account under Calculated > Reverse Calculated Archive.
  • Amount 30+ Days Past Due – This is the amount on the account that has been past due for at least 30 days.
  • Last Current – This is the most recent date on which the account was current.
  • Computation Fields – To view any computation fields that are displayed on the loan summary, click the label to expand this row.

2. The Statistics section shows a graphical display of the amount and days past due, the percent the account is paid off, and the breakdown of payments made on the account between different payment portions (e.g. interest, principal, etc.).

3. The payoff section lets you view the current payoff, or the payoff starting on any date you enter in the provided field. For more information, see Pay Off a Loan.

4. The notes section lets you view notes that have been added to the account and also lets you view and update the loan alert. Additionally, you can add an "Action & Results" sub-section as part of the notes section. This is done when setting up loan summary views.


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