I'd like to send and email to each of my borrowers. Some borrowers have multiple loans. I'd prefer to send one email to each borrower with 2 reports per loan in a single email.
Is that possible? If so, how?
email multiple reports to borrower
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wtech_josh
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Re: email multiple reports to borrower
Happily, someone with 10,000s of loans, often with dozens to the same borrower wanted this exact thing and paid to have a mechanic added to Moneylender to allow the creation of consolidated statement reports.
If you want to only send two statements to one borrower, then just send two emails. The mechanism below works well when you have lots of deals with one borrower, but it takes some effort to create the statement and report templates. Perhaps a builder that's making eight homes at the same time, and you're financing each of those homes independently. In a situation like that, this "consolidated statement" works well.
There's two things to take advantage of this:
-A report that shows the information you want the borrower to see on its columns.
-A statement that is either blank or acts as a cover letter for the report.
#1 - The Report:
You create the report with a Financial Summary type (some other types are compatible, but the Financial Summary is the main report engine that handles most situations). You'd probably add columns with values that the borrower will want to know like Account Number, Principal Balance, Due Date, Amount Due, etc. And maybe you put sums on the bottoms for things like principal and amount due so the borrower can see the total they owe across all their loans.
Check the box for "Selected borrower's accounts only." This will make the report eligible to appear in the list of reports you can attach to statements.
Pro tips for creating the report:
When setting up the values to used for each report column, there are "SummaryOfFinancesRecord:" values which are calculated based on the report's date range, and there are "Loan:" values which are properties of the loans themselves. Using Loan:AmountDue and SummaryOfFinancesRecord:AmountDueDate will work well together as the Loan:AmountDue property corresponds with the calculated AmountDueDate. (AmountDueDate isn't a direct property of the loan record, and is always computed as the maximum of NextPaymentDate and CurrentDueDate.) SummaryOfFinancesRecord:AmountDue is the amount due at the end of the report's date range, so is doesn't necessarily correspond with the AmountDueDate. Similarly, use Loan:OverallBalance or Loan:PrincipalBalance, so the values are independent of the report's date range settings.
With one possible exception, Moneylender doesn't have a mechanism to split one payment across multiple loans, if you get a single payment for several loans, you'll need to split it manually and record the individual pieces to the loans. So if you don't want one big payment, don't put a total at the bottom of amount due. If the borrower does send you one big check in a timely fashion, you can sort the main list of loans by borrower, select the block with the borrower in question, and click Tools > Auto-Add Payments to Selected Loans. That generates a payment for each loan on its due date for the amount due. You'll need to double-check amount of all the payments that were generated is correct. (You can make a copy of the Payment Reconciliation report and mark it for "Selected borrower only". Run it to get the list of payments on that borrower's loans for a certain date range.) Be very careful that your loans are current and not too far past the due date if you use that tool, and always verify the sum of the resulting payments are correct. If the borrower isn't super prompt or pays a different amount, just divide up the lump payment manually and record the individual payments to each loan.
#2 - The Statement
Now that you have a report, you'll need a statement you can attach it to so you can send it to your borrowers. Go to Servicing > Manage Templates. I like to start by copying (button with two sheets of paper) the "Voucher Booklet Cover Letter" template most of the time, since it has "to" and "from" addresses, and then just body text and basic payment details. Edit the template record (pencil button) and hit Next until you get to the part where you can attach reports and other statements. Choose your consolidated statement report and add it to the statement, and then finish the wizard. Then you can edit the design of the template (paper and pencil button) so the actual document says something reasonable. It's easy to swap out the body text with something that fits the situation (right-click a textbox to edit the text within). Maybe replace the text with "Attached is a consolidated statement of your accounts with us" for example.
When you've edited the page to your liking, you can send this by selecting any one loan from a specific borrower and choosing this template from the Servicing menu. If you'll send lots of these, you can send them like any other statement - select something like "Open Loans" for the loans to print - and checking the box for "One statement per borrower" to cull the list of recipients so any borrower only appears once.
Wow, super easy, right?! lol. It's always a bit of work to set up your documents and reports to suit your business model well. But once you've created the report and statement templates, it's pretty much instant to send them forever after. The mechanics of Moneylender are elaborate, but with some bending and tweaking, you can wrap the program nicely around your business model and lending style.
If you want to only send two statements to one borrower, then just send two emails. The mechanism below works well when you have lots of deals with one borrower, but it takes some effort to create the statement and report templates. Perhaps a builder that's making eight homes at the same time, and you're financing each of those homes independently. In a situation like that, this "consolidated statement" works well.
There's two things to take advantage of this:
-A report that shows the information you want the borrower to see on its columns.
-A statement that is either blank or acts as a cover letter for the report.
#1 - The Report:
You create the report with a Financial Summary type (some other types are compatible, but the Financial Summary is the main report engine that handles most situations). You'd probably add columns with values that the borrower will want to know like Account Number, Principal Balance, Due Date, Amount Due, etc. And maybe you put sums on the bottoms for things like principal and amount due so the borrower can see the total they owe across all their loans.
Check the box for "Selected borrower's accounts only." This will make the report eligible to appear in the list of reports you can attach to statements.
Pro tips for creating the report:
When setting up the values to used for each report column, there are "SummaryOfFinancesRecord:" values which are calculated based on the report's date range, and there are "Loan:" values which are properties of the loans themselves. Using Loan:AmountDue and SummaryOfFinancesRecord:AmountDueDate will work well together as the Loan:AmountDue property corresponds with the calculated AmountDueDate. (AmountDueDate isn't a direct property of the loan record, and is always computed as the maximum of NextPaymentDate and CurrentDueDate.) SummaryOfFinancesRecord:AmountDue is the amount due at the end of the report's date range, so is doesn't necessarily correspond with the AmountDueDate. Similarly, use Loan:OverallBalance or Loan:PrincipalBalance, so the values are independent of the report's date range settings.
With one possible exception, Moneylender doesn't have a mechanism to split one payment across multiple loans, if you get a single payment for several loans, you'll need to split it manually and record the individual pieces to the loans. So if you don't want one big payment, don't put a total at the bottom of amount due. If the borrower does send you one big check in a timely fashion, you can sort the main list of loans by borrower, select the block with the borrower in question, and click Tools > Auto-Add Payments to Selected Loans. That generates a payment for each loan on its due date for the amount due. You'll need to double-check amount of all the payments that were generated is correct. (You can make a copy of the Payment Reconciliation report and mark it for "Selected borrower only". Run it to get the list of payments on that borrower's loans for a certain date range.) Be very careful that your loans are current and not too far past the due date if you use that tool, and always verify the sum of the resulting payments are correct. If the borrower isn't super prompt or pays a different amount, just divide up the lump payment manually and record the individual payments to each loan.
#2 - The Statement
Now that you have a report, you'll need a statement you can attach it to so you can send it to your borrowers. Go to Servicing > Manage Templates. I like to start by copying (button with two sheets of paper) the "Voucher Booklet Cover Letter" template most of the time, since it has "to" and "from" addresses, and then just body text and basic payment details. Edit the template record (pencil button) and hit Next until you get to the part where you can attach reports and other statements. Choose your consolidated statement report and add it to the statement, and then finish the wizard. Then you can edit the design of the template (paper and pencil button) so the actual document says something reasonable. It's easy to swap out the body text with something that fits the situation (right-click a textbox to edit the text within). Maybe replace the text with "Attached is a consolidated statement of your accounts with us" for example.
When you've edited the page to your liking, you can send this by selecting any one loan from a specific borrower and choosing this template from the Servicing menu. If you'll send lots of these, you can send them like any other statement - select something like "Open Loans" for the loans to print - and checking the box for "One statement per borrower" to cull the list of recipients so any borrower only appears once.
Wow, super easy, right?! lol. It's always a bit of work to set up your documents and reports to suit your business model well. But once you've created the report and statement templates, it's pretty much instant to send them forever after. The mechanics of Moneylender are elaborate, but with some bending and tweaking, you can wrap the program nicely around your business model and lending style.