Loan Corrections

Open a Transaction work area.
Search for the member.
In the Transaction Type field, enter LC for Loan Correction.
In the Loan field, select the loan.
Press the Tab key to move forward through each field.
In the Transaction Date field, enter the date that the incorrect payment was made.
In the Loan Correction: (Account Number Loan Description) window, locate the incorrect payment in the Transactions panel.
Right-click the payment and select Delete Transaction.
In the Description field, enter a comment to appear on the Member’s statement.
Click Add to Ticker.
In the Loan Correction Recap window, click Add to Ticker.
Offset the transaction with a Deposit to the Share
Click Post.

Open a Transaction work area.
Search for the member.
In the Transaction Type field, enter LC for Loan Correction.
In the Loan field, select the loan.
Press the Tab key to move forward through each field.
In the Transaction Date field, enter the date that the incorrect payment was made.
In the Loan Correction: (Account Number Loan Description) window, locate the incorrect payment in the Transactions panel.
Right-click the payment and select Delete Transaction.
In the Description field, enter a comment to appear on the Member’s statement.
Click Add to Ticker.

In the Loan Correction Recap window, click Add to Ticker.
Offset the transaction with a Credit to the GL Error Correction (999999.0000.00[Br#])
Click Post.
Pull member back up
In the Transaction Type select Effective Date(E) and Enter the Date that the payment was applied to the incorrect loan and hit TAB

Transaction Ticker should show Effective Date in red

In the Transaction Type select Payment (PA) and select the loan the payment should have been applied to and enter amount
Offset the Transaction with a Debit from the same GL we credited during the first step of the loan correction (999999.0000.00[BR#])

(Applied as Principal Only and Should have been Regular or Vice Versa)

Open a Transaction work area.
Search for the member.
In the Transaction Type field, enter LC for Loan Correction.
In the Loan field, select the loan.
Press the Tab key to move forward through each field.
In the Transaction Date field, enter the date that the original payment was made.
In the Loan Correction: (Account Number Loan Description) window, locate the incorrect payment in the Transactions panel.
Right-click the payment and select Modify.
In the Modify Monetary window, update the transaction with the correct information.

If modifying the distribution of funds, select the correct value in the Subcategory field.
Click Ok
In the Description field, enter a comment to appear on the members statement
Click 'Add to Ticker'
In the Loan Correction Recap window, click Add to Ticker.
Transaction balance should be $0.00 since no amounts are being changed
Click Post.

Follow these instructions to make loan corrections in Keystone