Repaying the Loan

When a member earns points in the future, those points are used to pay back the loan.

To set up automatic repayment of loans, Setting Up Points Loan Repayment Workflow.

For manual repayment of the loan, follow this procedure.

To manually repay a loan

1. With the record for the loan selected in the Loans list, scroll down to see the Repayments list.

2. Add a new record to the repayments list, and complete the necessary fields. Some fields are described in the following table.

   Field	Description
   Product/Service	Select a product.
   Points	Enter the number of points to be repaid.
   Point Type	Select the point type. This must be the same type used in the loan.
   Submit To	Select the manager who must approve this request.
   Status	Displays In Progress.

3. Click the repayment’s Transaction ID field.

4. Change the transaction’s status to Submitted to submit the transaction for approval.

5. The manager approves the transaction by changing its status to Acceptable.

6. Click Process to process the transaction.