All Categories ​>​ ​LMS UI ​ > ​ ​Loans Tab ​ > ​ ​Loan Servicing ​ > ​ ​Charges

Charges

Automatic Late Fees

General. LoanPro gives you the option to configure automatic late fees for your company. These are fees that are automatically assessed on your accounts once the grace periods on the accounts have pa…

Updated 4 months ago by Cole

Change Due Date Charge

General. There are many times you can charge a fee, but the change due date charge is a fee you will be prompted to add any time you change a due date. This is a convenience item that lets you define…

Updated 1 week ago by Cole

Charge Types

General. LoanPro lets you create a list of charge types to better organize and search for charges. Charge type is selected when you log a charge inside the system (inside a loan, Charges > Types.) Th…

Updated 1 week ago by Cole

Charges Overview

General. Charges, or fees, inside LoanPro are amounts assessed on a loan or lease outside the repayment schedule. Charges can be assessed in many ways, some of which are designed for specific purpose…

Updated 1 week ago by Cole

Export Loan Charges

General. At times, you may want to export the charges on a loan so you can run further analysis of the numbers in Excel or easily show the customer the charges that have been assessed. While there ar…

Updated 6 months ago by Sloan

Fees Paid By

General. Fees paid by is a selection that will let you choose how payments apply to fees on a loan. This selection is made in the Advanced Configuration section of Setup Terms. Date. If you select Da…

Updated 11 months ago by Sloan

Late Fee Enrollment

General. In LoanPro, you have the ability to enroll loans for late fee assessment based on the loan status. For example, if a loan is repossessed or closed out in another way, you may not want late f…

Updated 6 months ago by Sloan

Log a Charge

General. Your company may add additional charges to customer accounts for any number of reasons. This article goes over logging a charge on an account. This article will not cover automatic late fees…

Updated 9 months ago by Sloan

Recurring Charges

General. LoanPro specifically offers automatic late fees that will get logged on your customer accounts if the customer doesn’t make a payment before the grace period expires. Recurring charges let y…

Updated 9 months ago by Cole

Reverse Charges

General. At LoanPro, we strive to keep an audit trail inside our software so you can always have as much information as possible including the who, what, and when of your loan changes. This being the…

Updated 6 months ago by Sloan

Using Convenience Fees

General. Because it costs money to process a bank card or ACH transaction, payments with these methods bring in less revenue than they would have with cash. In many regions, the law and contracts wit…

Updated 1 hour ago by Cole

Powered by HelpDocs (opens in a new tab)