Reverse Charges
Updated 7 months ago
Introduction
LMS keeps an audit trail of all transactions on loans, making it easy to both see what changes have been made and reverse them if necessary. Reversing a charge is just a matter of a few clicks.
Reversing a Charge
To reverse a charge, navigate to Servicing > Charges inside of the loan.
To reverse an active charge, click blue back arrow. This will bring up a window asking for a comment.
Enter any information relevant to the charge reversal in the Reversal Comment box and then select 'Reverse Charge'. Once reversed, it will now appear with a red background, distinguishing it from active charges.
You can click on the title of the charge to expand additional information.
What's Next
Here are some other articles that might interest you:
- Charges Overview explains what charges are and links to articles on specific kinds of charges.
- If you're auditing a loan, the Historical Loan Archive keeps a daily log of all the data on an account.