ASPIRE V5 | Loans | Knowledge Base

Loans
How do I apply a check payment to a Loan Payoff as well as to additional invoices, such as a Prepayment Penalty Fee?
Due to limitations within older versions of ASPIRE (prior to 5.20.41), upon processing a check payment receipt for a Loan Payoff, you are unable to process that same check across any other invoices at the same time. You must first process the check ...
ADB Loans
See attached document for more details. ADB: Actual Daily Balance. A type of loan where the date of payment received affects the amount of interest paid each period. Earnings schedule of interest set at time of booking The date of payment received ...
Loan Items Video
A 9 minute video that walks through setting up Loan Items and adding them to a loan contract. Click the Full Screen button to view in full screen.
Partial Payoff - Loan
1. Do a quick search for the contract ID, and double click the icon for Payoff Calculator. 2. Click the “Loan Items” tab at the top, and select the assets to payoff. 3. Go back to the Payoff tab, and input the Payoff Date. This is the date interest ...
Full Payoff - Loan
See the attached document for complete details. The attached document walks through the process of fully paying off a loan.

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Loans