LD Loan Statement

T24 LD Loan statement

We understand one of the main queries from client (both internal and external) is to understand how a loan would have lived its life from when it was disbursed. Among a number of reports that can be of assistance in analyzing and elucidate the life the LD Loan Statement Report.

ENQ LOAN.REPORT is a core enquiry is found under Loan enquiries.  You will need to provide the LD contract ID that you wish to analyze. See below a sample loan report inserted below that I will use to assist in guiding what the report information means.

TOP SECTION OF THE REPORT:

     The top section of the report depicts the loan contract details, i.e.

·        Loan Reference Number,

·        CIF: Customer Information number,

·        Value Date: When the Loan was disbursed,

·        Maturity Date: When the loan is expected to end,

·        Product Category,

·        Category: Description of the code defined under Product Category,

·        Currency: Currency in which the loan was issue in,

·        Original Amount: Loan initial amount that was disbursed,

·        Loan Status: Depicts the status of the loan, for e.g. PDO i.e. the loan has arrears,

·        Curr.Int.Rate: The Interest Rate for the loan,

·        Calc Basis: the number of days as a denominator to be considered annually when calculating the interest,

·        Printed By: user logged on when the report was extracted and or printed,

·        Time and date: Time and date when the report was extracted and printed,

·        Branch: Where the loan was issued from.

SECOND SECTION OF THE REPORT:

The second part of the report is divided into two to show the life of the loan. This is where the individual transactions affecting the LD contract are shown.

1.      LOAN SECTION depicts the current movement of the loan. This is on the Left side

2.      PAYMENT DUE SECTION gives indication balance in arrears and its movement. This is Right side of statement

**The last column Capital OS shows the running principal balance after each transaction.  LD principal + PD Principal

LOAN SECTION:

This is made up of fields below:

     Val Date: This gives the date which the system gives value for either a loan was disbursed or a repayment is due,

     Desc: This depicts the type of movement/transaction that would have taken place on that respective value date. The last part of the report, i.e. Abbreviation gives more details on what each Desc indicates ,

     Debit: This indicates  the amount/value that was given out as loan to a client,

     Credit: This indicates  the amount/value paid towards reducing the loan,

     LD Balance: this indicates  the balance on the loan,

     Interest:

     Charge: this indicates  the charges that were levied when the loan was disbursed,

     Tax: This indicates  the tax obligation if applicable on the loan amount,

PAYMENT DUE SECTION:

This is made up of fields below:

     Trn Date: This indicates  the date when an entry was made on the PD contract,

     PD Desc: This depicts the type of movement/transaction that would have taken place on that respective Trn date. The last part of the report, i.e. Abbreviation gives more details on what each Desc indicates,

     PD Debit: This indicates when an amount due is not settled, it increases the value/amount in arrears.

     PD Credit: This indicates when an amount due has been settled, it reduces the value/amount in arrears,

     PD Interest: This indicates, if set, penalty interest applied on the amount in arrears.

     PD Charges: This indicates, any charges applied on the amount in arrears,

     PE+PS:

     Int Tax: Int tax on PD Interest if applicable,

     PD Tax: Tax to be applied to amount in arrears if applicable,

THIRD SECTION OF THE REPORT:

This part is sub-divided into four sub-sections, namely, SUMMARY OF THE STATEMENT, ARREAR DETAILS, WOF DETAILS, and ADJUSTMENT DETAILS.

SUMMARY OF THE STATEMENT:

This part indicates a summary of:

     Total Principal amount recovered up to when the report was extracted and or printed,

     Total Interest Amount recovered up to when the report was extracted and or printed,

     Tax recovered if any will be indicated under this part of the report,

     Total Charges Recovered when the loan was disbursed will be indicated,

ARREAR DETAILS:

This part of this section indicates a summary of the arrears details as indicated by the fields below:

     Principal in Arrears, i.e. the principal portion of the amount that will be in arrears if any.

     Interest in Arrears, i.e. the interest portion of the amount that will be in arrears if any.

     Tax in arrears, i.e. the tax portion of the amount that will in arrears.

     Charges in arrears, i.e. the charges portion of the amount in arrears.

     No of Inst. In arrears, i.e. the number of instalments that are in arears.

WOF (Write Off) DETAILS:

This part of the section indicates a summary of any amount/figures that would have been Written Off, as indicated by the fields below:

     Principal WOF, i.e. The principal portion of the amount that would have been written off.

     Interest WOF, i.e. The interest portion of the amount that have been written off,

     Tax WOF, i.e. The tax portion of the amount that would have been written off,

     Charges WOF, i.e. the charges portion of the amount that would have been written off.

FOURTH SECTION OF THE REPORT:

The fourth section of the report is a key with the abbreviation that were used in the body (i.e. Second section of the report) expanded as below:

     DIS – Disbursement of capital, this is the amount that would have been credited the client’s account.

     PPT – Part payment, this is the monthly repayment that the system would have recovered to reduce the Loan balance,

     HIST – FWOF Moved to history, this indicate the amount that would have been initially financially written off but moved to history,

     WOF – Bad and Doubtful written off, this indicates the amount arrears in doubtful state to be recovered,

     REC – recovery, this indicates an amount recovered after being transferred to PD amount

     CAP – PD capture, this indicates the PD amount that was manually captured for the contract,

     FWOF – Financially WOF, this indicate the amount that would have been financially written off,

     TRF – Transfer to PD / Transfer from loan, this indicates an amount that the system was expecting to recover as a repayment but the principal liquidation account will not be funded resultantly being transferred to PD.

     ADJ – Adjustment, this indicates the amount that would have been manually adjusted on the initial loan figures,

     DEC – Principal Decrease, this indicates the figure that was manually captured to reduce the loan balance,

     DECPD – Principal Decrease move to PD, this indicates an amount that would have been manually reduced from the Loan balances and moved to PD.