If you are entering backdated loans, or loans started on another computer system, or loans done manually before using TLP, you must follow these guidelines, or contact AOCG before employing any other method. If you don't follow these guidelines, your loans may look correct to you, but the fees, interest, loan balances, due dates and other critical information may not be correct, either initially or after one or more daily updates have been done by TLP.
Installment loans - You cannot backdate an installment loan to match a loan started on another computer system, or a manual system. Instead, you should collect any outstanding interest and fees due on the original loan, pay off the original loan, calculate the remaining principal balance, and do a new installment loan using TLP. The loan date should be date of the new installment loan, not the original date of the paid off loan, or any other backdated date. Backdating installment loans is not supported by AOCG.
Daily interest loans - You can backdate daily interest loans to the last renewal date, but TLP will not know the interest and fees due as of the current loan date. Therefore, once the loan is added, someone with administrator access should manually adjust the interest and fees due on the loan before the next daily update runs. If the initial principal, fees and/or interest are incorrect, the daily update procedure will not work correctly on the loan in question.
Accrued interest loans (loan length method) - The discussion for daily interest loans applies for loans with interest accrued on the loan length method.
Cash Advances - You can backdate cash advance loans to the last renewal date, and TLP will calculate the normal interest and fees due. If there have been any changes in fees or interest on the loan, someone with administrator access should manually adjust the interest and fees due on the loan before the next daily update runs. If the initial principal, fees and/or interest are incorrect, the daily update procedure will not work correctly on the loan in question.