Edit a loan account

1. Go to Lending Management > All > Loan accounts.
2. Find the loan account that you want to edit.
3. Select Edit at the end of the row.

4. Change the loan account. You can change only the following fields and controls.

   • In the Loan information section:

     • Amount: You can change the loan origination amount only if all of the following are true:
       • No funds have been disbursed for the loan.
       • No transactions except the loan origination transaction have been posted for the loan account (including interest posted when interest and statements are generated).
       • For the Accounts Payable bill for the loan origination amount, a payment was not received and then voided.
       • The period for the loan origination transaction is open in general ledger.
       • Interest and statements have not been generated for the period in which the loan origination transaction was posted.

       Changing the loan amount results in an edit of the loan origination transaction and the corresponding Accounts Payable bill.

     • Account name: The account name must be unique.
     • Status: You can make the loan account Inactive if the only transaction that's been posted for the loan account is the loan origination transaction, and if one of the following is true:
       • Accounts Payable is configured to enable reversal of unpaid bills.
       • For the Accounts Payable bill for the loan origination amount, a payment was received and then voided.

       Making a loan account inactive has the following effects:

       • The loan origination transaction is reversed in Lending Management and Accounts Payable.
       • The state of the loan account changes to Closed.
       • The status of the loan account changes to Inactive.
       • No accrued interest is calculated or posted for the loan account.
       • No statement is generated for the loan account.
     • Email statements: You can change whether you allow statements for the loan account to be emailed from the Statements page.
     • Attachment: You can add or change supporting documents for the loan.
     • Description: You can add or change the description of the loan account.
   • In the Dimensions section:

     You can change all fields.

     When you edit dimensions for a loan account, the changes affect new transactions created afterwards, but do not affect historical transactions. You can reclassify historical transactions to make their dimensions consistent with new transactions. Learn about reclassifying transactions.

5. Select Save.
6. If you are changing the status of the loan account to Inactive, specify the loan origination date as the date that the loan account will be inactive.