Common use of Main Menu Clause in Contracts

Main Menu. 1. Main Menu is displayed when the user clicks the Login button on the Login screen. 2. The items included on the Main Menu are as follows: Setup Setup menu is used to set up borrowers, loans, and various parameters used by the system. Loans and Properties Set up new loans, modify loan records, fund, discharge and renew loans, and enter adjustments and sundry transactions. Maintain Properties. Billing The Billing process calculates the monthly installment for each loan and bills it to the borrower. If all installments are payable on the same day (says the last day of the month), billing will be run once a month otherwise it is run several times a month and picks up only those loans for which the payment is due. Borrower Receipts After billing has been run, checks for loan installment received from borrowers are entered using this function. Enter receipts from borrowers, print unposted receipts and bank deposit slips, and post transactions. Misc Transactions This function is used to enter unapplied cash receipts from borrowers. Such receipts can be applied later to individual ▇▇▇▇▇▇▇▇. You can also use this function to ▇▇▇▇ or receive service charges such as NSF fees etc. on ad hoc basis. Borrower Refunds If a borrower has overpaid, you may use this function to refund the overpayment if necessary. Periodic Processing Periodic Processing is run to delete old General Ledger journal entries, closed loans, inactive borrowers, and other unnecessary pieces of information. It also cancels the latest billing if necessary. Reports and Inquiries Print various reports generated by the system or view them on the screen.

Main Menu. 1. Main Menu is displayed when the user clicks the Login button on the Login screen. 2. The items included on the Main Menu are as follows: Setup Setup menu is used to set up borrowers, loans, and various parameters used by the system. Loans and Properties Set up new loans, modify loan records, fund, discharge and renew loans, and enter adjustments and sundry transactions. Maintain Properties. Billing The Billing process calculates the monthly installment for each loan and bills it to the borrower. If all installments are payable on the same day (says the last day of the month), billing will be run once a month otherwise it is run several times a month and picks up only those loans for which the payment is due. Borrower Receipts After billing has been run, checks for loan installment received from borrowers are entered using this function. Enter receipts from borrowers, print unposted receipts and bank deposit slips, and post transactions. Misc Transactions This function is used to enter unapplied cash receipts from borrowers. Such receipts can be applied later to individual ▇▇▇▇▇▇▇▇. You can also use this function to ▇▇▇▇ bill or receive service charges such as NSF fees etc. on ad hoc basis. Borrower Refunds If a borrower has overpaid, you may use this function to refund the overpayment if necessary. Periodic Processing Periodic Processing is run to delete old General Ledger journal entries, closed loans, inactive borrowers, and other unnecessary pieces of information. It also cancels the latest billing if necessary. Reports and Inquiries Print various reports generated by the system or view them on the screen.