Make a manual consolidated payment for a master facility loan

Overview

You can also make a manual consolidated payments by manually creating a cash receipt that is associated with a master facility loan. Once you create a cash receipt, you can clear the payment by selecting the Clear Payments button on the UI.

Prerequisites

To configure the automated consolidated payments for a Master Facility, ensure that the following prerequisites are met:

The Enable Master Facility checkbox in Custom Settings > Enable Loan Features is selected.
Note:
To know the steps to select these checkboxes in Enable Loan Features, see Enable Loan Features.
The Enable Cash Receipts checkbox in the Custom Settings > CL Platform Settings is selected.

Steps

To make a manual consolidated payment using a master facility, do the following:

Step 1: Create a cash receipt associated with a master facility loan.

Step 2: Clear the payment.

Step 1: Create a cash receipt associated with a master facility loan

While creating a cash receipt, select the master facility loan to create the cash receipt for. Then create the payment applications.

Note:

For steps on creating a cash receipt and payment application, see Create a cash receipt and payment applications.
Once you have selected a master facility loan contract for a cash receipt, you cannot change it later.

Step 2: Clear or apply the payment

If the Transaction Approval Config for Loan Payment is selected, then the payment is created as part of you creating a cash receipt. To clear it, if you get the approval, you must select the contracts and then select the Apply Payment button on the Payment Application page to clear those LPTs as highlighted in the following image: