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ADDITIONAL LOAN COSTS

Function
Additional Loan Costs allows you to enter and track monies that are not to affect the loan balance, nor have interest accrued on them.

Operating Instructions
From the GMS-RLSS Main Menu, select Loan Activity, Additional Loan Costs.

Loan Number
Select the loan number/name from the combo box or enter the loan number manually.

Activity Date
Select the Activity Date from the calendar.

Amount
Enter the amount of the item. If it is monies disbursed on behalf of the client, the amount should be positive. As you receive reimbursement for these items, enter the amount as a negative.

Description
Enter the description of the item.

Print by Date Range
A checkmark in this box will then allow you to enter from and to date ranges for printing the Additional Loan Costs that fall within this selected range.
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Include All Loans
Allows printing of Additional Loan Costs for all loans in which they’ve been entered.



Things You Should Know

• Any amounts entered will not affect the principal balance nor interest calculations.

• The total of these amounts will appear at the bottom of your loan Activity Report and also will appear on Loan Payoff.

• When entering items in the grid, be sure your cursor is on the blank line below the last item entered before selecting Save.

• You may print an itemized listing of amounts entered for each loan by selecting the print icon.

• Amounts entered here will not be part of your Monthly Journal Entry. Be certain they are properly recorded in your accounting system and not coded to Loan Clearing.