The User manual for the Jisort system

3. LOANS

3.22. Add Charge

This is a section to add the charges for a loan. Example of a charge is processing fee. The table below explains every field in this window.

Field

Description

Name

Add the name of the charge e.g. processing fee

Charge time type

It is a drop down list that has 3 options.

Disbursement fee- Select that, if the fee is incurred during disbursement. E.g. disbursement fee

 

Installment fee-Select it, if the fee that is incurred when you make a payment in installments.

Overdue fee- Select it, if the fee is incurred when a payment is overdue. E.g. Penalty fee

Charge Calculation

This is a drop down list that has 5 options.

Flat- Select if the fee you are adding does not vary for different loan products.

% of amount- Select if the charge is calculated as a percentage of amount.

% of amount +interest- Select if the charge is calculated as a percentage of amount +interest.

% of interest- Select if the charge is calculated as a percentage of interest.

% of disbursement amount- Select if the charge is calculated as a percentage of disbursement amount.

 

Amount

If you pick an option with % of something (may be % of amount). Be KEEN to add the percentage in this field. i.e. If you add that the charge is processing fee and charge calculation is 10 % of amount. On this amount field add 10.

-     If you take another charge and the charge calculation is flat. On this field add the amount. i.e.

2000 shillings

GL account 

To which GL account does the charge go to.

Status

Select status from the drop down list

Below is a screenshot for the Add Loan charge.