Search found 21 matches

by wtech_josh
Wed Apr 15, 2020 4:02 pm
Forum: AutoPay Service
Topic: Where are the AutoPay payments? I don't see them on the Payments tab.
Replies: 0
Views: 3592

Where are the AutoPay payments? I don't see them on the Payments tab.

I opened Moneylender and the payments I got through AutoPay aren’t there. Why not? In most cases, this is because the AutoPay synchronization happens two minutes after the portfolio opens. Upon opening the main window loads, so Moneylender waits before doing anything to give that a little time to c...
by wtech_josh
Tue Apr 07, 2020 4:47 pm
Forum: AutoPay Service
Topic: Agreement text for AutoPay bank override.
Replies: 0
Views: 2898

Agreement text for AutoPay bank override.

AutoPay normally collects the borrowers bank account and authorization directly from the borrower electronically. There is an option in Moneylender to input the borrower's bank account yourself. If you use this option, you need to keep the borrower's signed authorization to do ACH transactions on fi...
by wtech_josh
Fri Apr 03, 2020 3:02 pm
Forum: Management and Financials
Topic: The first payment is applying entirely toward interest!
Replies: 0
Views: 4013

The first payment is applying entirely toward interest!

You create a loan and add some payments. The first one or more payments on the loan are applied entirely to interest and no principal. What's happening? It's usually one of two things… In the Loan Wizard, you have the choice to have interest on the payment schedule (like most mortgages and car loan...
by wtech_josh
Mon Mar 23, 2020 11:57 pm
Forum: Management and Financials
Topic: Oldest Due Date on Payment Reports missing dates / same date more than once
Replies: 0
Views: 3289

Oldest Due Date on Payment Reports missing dates / same date more than once

The value for this column is the closest thing to a due date to which a payment is applied. If you see a date more than once in this column, it means the first payment with this date wasn't enough to advance the loan to the next due date. Subsequent payments with this due date were required to finis...
by wtech_josh
Thu Mar 19, 2020 10:06 pm
Forum: Statements and Servicing
Topic: Payment Receipt template
Replies: 0
Views: 4204

Payment Receipt template

Save the attached file to your computer. In Moneylender click Servicing > Manage Templates > Import (arrow towards disk) button > Change Source > browse to where you save the attached file > choose the file > check the box for Payment Receipt > Import Checked. Select a loan and print this template t...
by wtech_josh
Fri Feb 28, 2020 4:22 pm
Forum: Management and Financials
Topic: An unpaid late fee is causing unwanted late fees for subsequent due dates...
Replies: 0
Views: 4692

An unpaid late fee is causing unwanted late fees for subsequent due dates...

You have a few ways to handle this. Make sure "lenient late fees" is turned on. There’s a setting in Portfolio > Portfolio Settings > General tab > “Small outstanding amounts don’t trigger late fees.”. When this is checked, if the amount due at the end of the grace period is ¼ of the regular payment...
by wtech_josh
Tue Feb 18, 2020 4:03 pm
Forum: Statements and Servicing
Topic: Why do loans have next payment due, current, and amount due dates?
Replies: 0
Views: 5834

Why do loans have next payment due, current, and amount due dates?

Loans have “three” due dates in Moneylender to enable it to always know what date we’re currently billing for... Current Due Date – driven forward by the advancement of time. There’s a setting in Portfolio > Portfolio Settings > Numbers tab > “Statements and main window use amount due from X days in...
by wtech_josh
Sun Jan 05, 2020 2:53 pm
Forum: Statements and Servicing
Topic: Form 1098 Principal Balance is too high
Replies: 0
Views: 5630

Form 1098 Principal Balance is too high

A lot of people look at the principal reported on form 1098 and believe there is an error. This is the principal balance at the beginning of the day at the beginning of the calendar year in question. So the 1098 form for tax year 2019 has the principal balance of the loan at the beginning of 2019 , ...
by wtech_josh
Thu Jan 02, 2020 9:19 pm
Forum: Statements and Servicing
Topic: Form 1098 template for the 2019 tax year
Replies: 0
Views: 5437

Form 1098 template for the 2019 tax year

If anybody is having trouble getting the 2019 forms into their portfolio, download the attachment to your computer and you can import the templates from that file.
by wtech_josh
Mon Dec 16, 2019 3:10 pm
Forum: Management and Financials
Topic: Want to keep the late fees, but not show the loan as behind because they weren't paid.
Replies: 0
Views: 5017

Want to keep the late fees, but not show the loan as behind because they weren't paid.

When a borrower is late, but only pays the regular payment, and you don't want to have the late fees showing as outstanding on the loan or affecting the loan's current/past-due status, here's a quick way to tell Moneylender not to worry about getting the extra money owed from the late fee right away...