All Loans Setup Screen
Four (4) types of Loans are listed under Loan Numbering Setup. This section permits the end user to set what the Loan Prefixes are for each type loan and also to dictate what the next loan number will be in each loan type. There is a check box to the right of each loan type with the heading Assign. If there is a check mark in the check box the program uses these defaults.
Returned Check Fee: Be sure to specify the fee you charge your clients for returned checks.
Apply after day number: Normally this is 0 (the number zero), which causes the returned check fee to be applied immediately. If you want the system to wait a certain number of days before applying the returned check fee, enter the number of days to wait here.
Use Loan Suffixes? If this check box has a check mark in it the program will suffix each loan with N = First Loan, R = Renewal, I = Increase
Below that you will find a text box to enter the number of days to be used when calculating Daily Interest and APR for Cash Advances
Below that you will find Default Cash Drawer Balance. If this field is set to "0" the software will start each days transactions with the previous days cash drawer balance. If any amount other than "0" the software will open the cash drawer each day with this figure.
Cash Advance Maximum Number of Open Loans: Use this field if you want to limit the number of open cash advances an individual client can have open at one time.