Setup Loan Statuses

Contract Management for Drink-IT  •  Article  •  7/6/2023  • 

Loan statuses define the stages of your loan process flow. For each stage, you can define the changes that are allowed to execute.

  1. Select the Search icon alt text, enter Loan Statuses and then choose the related link.
  2. Choose the New action.
  3. Enter codes as necessary and fill in fields. Hover over a field to read a short description.
    • Code
    • Description
    • Allow Modification: when unchecked, a loan with this status may not be altered
    • Allow Pay Out: You can only post a general journal for the loan with Loan Entry Type = Loan Pay Out when the loan has a status with this field checked
    • Allow Pay Back: the Create Loan Pay back function only includes loans with a status that has this field checked
    • Allow Loan Reclassification: the Reclassify Loan function only includes loans with a status that has this field checked