Daily Maintenance Process
There are several processes that run on each live loan each day in the Loan Management System (LMS). This includes things like calculating accrued interest, updating rules applied, adding automatic late fees, adding recurring fees, generating scheduled reports, sending automatic emails, etc.
Each night at midnight (based on the company time zone setting), LMS will run the following processes on all live accounts:
- Run LoanPro Calculator (updates values for the day & if applicable charges Late Fees)
- Rules Applied