home
***
CD-ROM
|
disk
|
FTP
|
other
***
search
/
Cream of the Crop 1
/
Cream of the Crop 1.iso
/
BUSINESS
/
LOANPLUS.ARJ
/
LOANPLUS.DOC
< prev
next >
Wrap
Text File
|
1992-03-28
|
25KB
|
575 lines
L O A N P L U S
=================
Copyright (c) Advanced Performance, Inc. 1985-1992
107 Court St., Pickens, S. Carolina 29671, USA
PHONE: 803-878-2100 FAX: 803-878-4969
All rights reserved Version 1.2 (Rel. 03-11-92)
LOAN PLUS (R) is a registered Trade mark of API
WHAT IS LOAN PLUS?
LOAN PLUS is a fully menu driven and user friendly microcomputer
software to effectively organize and monitor loan processing. Loan
payments can be documented easily. Various reports such as Amortization
Schedule, End of Year Statement, Late Customers List, Late Payment
notices, Chronological Loan Collection report, Payment Invoices and
Receipts, US IRS 1098s efficiently assist in full control of all phases
of loan processing. Five types of loans can be processed.
It is a violation of copyright laws to use LOAN PLUS (other than demo
purposes) without registration.
Upon your registration (by phone or mail), you'll receive complete manual
(via 2nd. day air U.P.S.), update notices, additional utility disk and
phone support.
If LOAN PLUS is used other than for demo purposes, you must complete and
return the following registration form within 45 days after your receipt
of the LOAN PLUS program. You may also register by calling 803-878-2100.
REGISTRATION FORM is shown below:
The registration fee is $89.95 + $15.00 s/h (2nd.day air via U.P.S.).
Checks should be made payable to:
Advanced Performance, Inc.
107 Court Street
Pickens, South Carolina 29671
Phone: 803-878-2100 Fax: 803-878-4969
Name____________________________________________________________
Company Name____________________________________________________
Address_________________________________________________________
City_______________________________________State_____Zip________
Disk size desired: 5 1/4 in._______ 3 1/2 in._______
How did you receive your copy of this program?__________________
________________________________________________________________
What type of computer and equipment are you using with
LOAN PLUS?______________________________________________________
________________________________________________________________
Suggested improvements__________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
HOW TO START THE LOAN PLUS PROGRAM?
1.Place program files in any subdirectory (recommend naming it LOANPLUS)
under the root directory on any drive on your hard disk.
2.Enter "LOANS" (LOAN PLUS start up command) from the LOANPLUS
subdirectory or enter "READTHIS" to view this LOAN PLUS software
documentation.
HOW TO ORDER OR OBTAIN MORE INFO?
LOAN PLUS is a shareware software with LOAN PLUS retaining all rights to
the software under the copyright laws. Please feel free to share it
with your friends. However if you like and decide to use LOAN PLUS, you
are LEGALLY OBLIGATED (WITHIN 45 DAYS of receipt of LOAN PLUS) to pay
a registration fee of $89.95 which entitles you to a registration, 200
page manual, update notices, additional utility disk and Free phone
support for 90 days. Extended support plans are available. It is a
violation of copyright laws to use LOAN PLUS other than demo purposes
without registration.
If you like and decide to use LOAN PLUS, please forward your registration
fee (or call 803-878-2100 for C.O.D. shipment) in the amount of:
$89.95 + $15.00 s/h for LOAN PLUS
to: Advanced Performance, Inc.
107 Court Street
Pickens, South Carolina 29671
Phone: 803-878-2100 Fax: 803-878-4969
Upon your registration (by phone or mail), you'll receive complete manual
(via 2nd. day air U.P.S.), update notices, additional utility disk and
phone support.
WHO NEEDS LOAN PLUS?
Any individual, business, bank, loan company, mortgage company, investment
firm or any institution processing loans. Current users include land and
housing developers, finance companies, banks, government lending agencies,
insurance companies, car dealers, CPAs,real estate professionals, resort
developers, music instrument dealers, travel agencies, churches,city
governments, hardware stores, attorneys and more!
WHY LOAN PLUS?
Reduces operating costs, errors and increases efficiency and profits.
Greatly organizes customer loan records and assists in effective
collection of loan payments.
Fully menu driven, user friendly and responds to customer inquiries.
Data files are exportable ton Database, Spread sheets, Word Processing
and Graphics.
LOAN PLUS means quality, timeliness, productivity, dependability and
cost effectiveness.
HOW MANY TYPES OF LOANS CAN BE PROCESSED WITH LOAN PLUS?
It can process the following FIVE types of loans:
a. Simple Interest - Monthly Interest Calculations
b. Simple Interest - Daily Interest Calculations
c. Interest only with Balloon Payment
d. Rule of 78
e. Partial Amortization with Balloon payment
Moreover, LOAN PLUS provides facilities to generate and maintain all the
above types of accounts in the same file. However, if you wish, you can
use only ONE type by locking out all others by a simple lock-out facility.
CAN LOAN PLUS HANDLE OTHER CURRENCIES AND DATE FORMATS?
YES, user can define the required currency. By default it is $. MM/DD/YY
or DD/MM/YY date formats are available.
IS COMPUTER EXPERIENCE NECESSARY?
NO............ LOAN PLUS is amazingly easy to use. First time users can
learn the system in a few hours.
WHAT ABOUT A USERS MANUAL?
LOAN PLUS comes with a well documented detailed Users Manual that shows
what to do and how. It includes an easy tutorial section for beginners.
WHAT ABOUT SUPPORT?
EXCELLENT ...........phone support is available.
WHAT HARDWARE IS REQUIRED?
Any PCDOS or MSDOS Operating system microcomputer. Example: IBM-XT, AT,
PS/2 or compatible with 256k memory minimum.
WHAT REPORTS DOES LOAN PLUS PRODUCE?
Loan Amortization Schedule
Late Notices
Late Customers List
End of Year Statement or US IRS 1098 for each customer
Assorted Loan Collection Reports for any time window
Customers Lists
Monthly Outstanding Balance Report for Rule of 78 accounts
Mailing Labels
Customer Information Sheet to assist during the initiation of the loan
Payment Receipts
Payment Invoices
To print out sample reports, at the LOAN PLUS Main Menu, select option
one "1.ADD/MODIFY COMPANY INFORMATION" and enter "Y" at the "PRINT OUT
SAMPLE REPORTS (y/n)" prompt. Prior to printing sample reports, set your
printer to compressed print mode if you have a 80 column printer.
When the initial installation is being done, make sure CONFIG.SYS file in
your root directory has FILES=12, BUFFERS=16 as a minimum. If needed, copy
the CONFIG.SYS from the program disk, turn off & turn on the computer.
Capacity is limited only by the hardware. Each transaction (payment)
needs 136 bytes in the payment file. Each customer needs 298 bytes in the
main file to store information like name, address etc.
THE FOLLOWING IS A CONDENSED EXPLANATION OF THE VARIOUS SCREENS AND FEATURES
OF LOAN PLUS (Upon registration, you will receive a detailed 200 page users
manual, update notices, additional utility disk and Free phone support for 90
days. Extended support plans are available. See below on "HOW TO ORDER"):
HOW TO ORDER:
LOAN PLUS is a shareware software with LOAN PLUS retaining all rights to
the software under the copyright laws. Please feel free to share it with
your friends. However if you like and decide to use LOAN PLUS, you are
LEGALLY OBLIGATED (WITHIN 45 DAYS of receipt of LOAN PLUS) to pay a
registration fee of $89.95 which entitles you to a registration, 200 page
manual, update notices, additional utility disk and Free phone support for
90 days. Extended support plans are available. It is a violation of
copyright laws to use LOAN PLUS other than demo purposes without
registration.
If you like and decide to use LOAN PLUS, please forward your registration
fee (or call 803-878-2100 for C.O.D. shipment) in the amount of:
$89.95 + $15.00 s/h for LOAN PLUS
to: Advanced Performance, Inc.
107 Court Street
Pickens, South Carolina 29671
Phone: 803-878-2100 Fax: 803-878-4969
Upon your registration (by phone or mail), you'll receive complete manual
(via 2nd. day air U.P.S.), update notices, additional utility disk and
phone support.
******************************************************************************
M A I N M E N U
******************************************************************************
Main Menu Option 1: ADD/MODIFY COMPANY INFORMATION
Using this option, the company information like name, password etc. may be
added or modified.
a. Password: The initial password is LOAN. The user may change it per the
requirements.
b. Grace period: The user may enter the number of days of grace period for
loan payments. It can be zero. This information will be used in Late
payment notices, Late customers list and Payment invoices.
c. % of monthly payment: User may enter the percentage of monthly payment the
company uses for computing late charges.
d. Flat late fee: Depending on the company policy a flat late fee may be
entered. If both c. and d. are entered % of monthly payment is selected.
The user may select the Types of loans for which the late charges are
applicable or not. See "g." under option 2 below for an explanation of the
five Types of loans A through E.
e. Loan officer's name and designation: These are used in late payment notices
and payment invoices.
f. Default required for type of loan: This default will appear in the Add
Customer Info screen.
g. Default required for code of loan: This default will appear in the Add
Customer Info screen. Initially this default is set to be 2. Interest can
be charged on unpaid interest using code 1 type of loan. Interest can not
be charged on unpaid interest in code option 2. Each loan account can be
assigned with a separate code.
h. Number of fields required for Customer Name: One field of 31 characters or
Two fields of 15 characters each for first and last names may be selected.
i. Currency: User can define any decimal based currency as required. By
default it is set to $.
j. Date format: User can select MM/DD/YY OR DD/MM/YY date format. By default
it is set to MM/DD/YY.
Main Menu Option 2: ADD CUSTOMER INFORMATION
Using this option, information for a new customer can be added.
a. Customer No. can contain letters or numbers or a combination of them.
Examples: RC-0790-30, 999-6789, CLRN-n88
b. Date of loan can be earlier, equal to or later than the current date.
c. Code of loan: The default required for Code of loan can be changed using
option 1 of Main Menu - Add/Modify Company information. Code 1: allows
negative amortization. Interest can be charged on unpaid interest. Code 2:
does not allow negative amortization. Interest cannot be charged on unpaid
interest. Each loan account can assigned a separate code.
d. United States Social security no. can be entered.
e. The Interest rate can be zero.
f. Either No. of Months or Monthly Payment has to entered. Both are not to be
entered unless the loan is of E Type.
g. Types of loan: LOAN PLUS can process 5 types. By default it is A. You can
manually override it. The types are based on the method of interest
calculations.
A type: Payment on interest = Loan balance * (Interest rate/12).
B type: Payment on interest = Loan balance * (Todate-Last payment date)
*(Interest rate/365).
C type: Same as A except the entire monthly payment is allocated to the
payment on interest and loan balance continues to be the same. A balloon
payment is required at the end.
D type: Rule of 78. Payment on interest = Total interest * (1 - Rebate
factor) where Rebate factor = ((TR*TR) + TR)/((TT*TT) + TT) where TR =
Remaining term in months & TT = Total term. where Total interest =
(Monthly payment*term) - Loan amount.
E type: Same as A except the user needs to enter both No. of Months and
Monthly payment. A balloon payment is required at the end. h. A printout
with loan information can be obtained.
h. A printout with loan information can be obtained. See "Customer
Information Sheet" in report print out.
Main Menu Option 3: MODIFY CUSTOMER INFORMATION
Using this option, data for an existing customer may be modified.
a. Note that modification of the loan data like loan amount, interest rate,
no. of months, etc. can not be done AFTER any payments are entered. However
the data like address, phone no. etc. can be changed any time.
b. Either No. of months or monthly payment can be modified but not both.
The field you can modify corresponds to the way the loan was generated in
the "Add Customer Information" option. However in the "E" option both the
fields can be modified.
c. Note that the Type of loan cannot be modified. If needed the data for the
customer need to be deleted and is to be added back again with the correct
type of loan.
d. Similar to the "Add Customer Info" option, Customer Information Sheet
printout is available.
Main Menu Option 4: DELETE CUSTOMER INFORMATION
Using this option loan and payment data for existing customers can be
deleted.
a. Enter "ALL" in Customer no. field if processing deletions for all
customers is needed.
b. Enter the year for which you need to delete the transactions.
c. The transactions of the current year and last year can not be deleted.
The transactions of any year earlier than the last year can be deleted.
d. If 8888 is entered in the year field, all payment transactions for the
specified customer will be deleted. Consequently the loan balance will be
made same as the original loan amount.
e. If 9999 is entered in the year field, all information about the specified
customer will be deleted.
Main Menu Option 5: POST CUSTOMER PAYMENTS
Using this option, payments from customers can be posted and receipts
can be produced.
a. If an existing customer no. is entered the system will display a screen
with customer and loan information.
b. The system optionally displays the Pay off balance.
For A type: Pay off balance is computed by adding the loan balance
and the interest for the days elapsed since the last
payment through date.
B type: Computed by adding the loan balance and the interest for
the days elapsed since the last payment date.
C type: Same as the original loan amount throughout the term.
D type: Pay off balance = Current loan balance - (Rebate factor*
Total interest)
where Total interest = Total of payments - loan amount
where Total of payments = Monthly payment * term
where Rebate factor = ((TR*TR) + TR)/((TT*TT) + TT)
where TR = Term remaining and TT = Total term
E type: Same as A type discussed above.
c. Last payment no: The last payment no. and optionally the regular payment
number are displayed. Examples of regular payment: 001, 022, 145.
Examples of pmts which are not regular: U02, N07, X11.
d. Payment no: Enter the payment as 001, 002 etc. not 1,2 etc. Note that the
payments can start with the following letters also: N, U, or X. The
significance of each are explained in sections o, p and r respectively.
e. Payment reference: This field needs optional entry. Examples: Receipt no,
Check no, General ledger reference number.
f. Late charges: If the customer is late in payment, the computed late
charges (based on the info provided in "Add/Modify Company Info" option)
will be displayed. The user can manually override the computed amount.
It is to be noted that the above calculations and display of late charges
will be made only if the corresponding Type of loan has been assigned
by the user to be applicable to late charges in the Option 1. of Main
Menu - Add/Modify Company information.
g. Total Payment: This is the sum of Late charges and monthly payment.
The system will verify the user entered amount and display an error
message if different from the sum of due late charges and monthly
payment. However the user can enter ANY AMOUNT. The system will
verify the total payment only once per posting.
h. Payment date: The system will accept any date. It can be earlier,
equal to or later than the current date.
i. Payment through date: The system will accept a date earlier, equal
to or later than the current date. This is an important date to
maintain transactions file. It represents the date through which
the payment has been made irrespective of the actual payment date.
Normally, it is one month after the loan generation date or the previous
payment through date.
j. Payment Receipt can be obtained. The name and address of the customer in
this and all other reports are printed in such a way that window envelopes
can be used for mailing purposes. See exhibit 11.
k. Payment on interest: The method to compute payment on interest for each
type of loan is presented under "Add Customer Option".
l. Payment on principal: Computed by subtracting the payment on interest from
the Total payment less late charges.
m. Loan balance: Computed by subtracting the payment on principal from
previous loan balance.
n. As explained earlier the system will accept ANY amount towards monthly
payment. Each case is discussed below:
i. If payment made is higher than the due monthly payment, the loan
balance will be further reduced by the extra amount.
ii. If payment made is less than the due monthly payment, the payment on
interest is made first and any remaining amount is allocated towards
payment on principal.
iii. Suppose payment made is less than the interest due for the period. Code
1 loan: The entire payment is allocated towards payment on interest and
the amount short of the payment on interest is added to the loan
balance (resulting in negative amortization).
Code 2 loan: The entire payment is allocated towards payment on
interest and the loan balance remains unchanged.
iv. The system also provides a facility to enter Zero Dollars ($0.00) for
monthly payment. The calculations are similar to iii above. Suppose
the loan balance is to be increased for a particular customer after
some payments are already made. A maximum of 99 such increases may be
entered for each account. Enter N01, N02 etc. in the Payment No. field
and enter the amount in the Total amount field. Process like any other
payment. The system will increase the loan balance by the corresponding
amount.
o. Suppose a customer wants to make an extra unscheduled payment to reduce his
loan balance. A maximum of 99 such unscheduled payments may be entered for
each customer account. Enter U01, U02 etc. in the Payment No. field and
enter the amount in the total amount field. Process like any other payment.
The system will decrease the loan balance by the corresponding amount.
p. Suppose a customer wants to pay off the entire loan balance. Process the
payment like an unscheduled payment by entering the Pay off balance in the
Total payment field. The loan balance will be made zero.
q. Extension payments can be entered like X01, X02 etc. up to 99 extensions
per account. The extension payment amount is to be entered in the late
charge field. The loan balance will remain unchanged. The payment through
date will be forwarded as per the user entry. The payment will be logged.
Main Menu Option 6: MODIFY/DELETE CUSTOMER PAYMENT
Using this option, any particular payment of a particular customer can
be modified or deleted. This option also provides a facility to add
an initial payment with a payment no. greater than one, for a new
customer.
a. If an existing Customer no. and Payment no. are entered, the system
displays the customers name, property and loan information. It also
displays the details of the particular payment record.
b. Any payment information like payment no., late charges, total payment,
dates, payment on interest, payment on principal, loan balance etc.
can be modified.
c. If you answer "Y" to the question "IS THE ABOVE THE LAST PAYMENT?(Y/N)"
the loan balance will be updated in files and used for all future
calculations.
d. NOTE: The modifications will be recorded only if "Y" is entered for the
question "OK TO SAVE MODIFICATIONS?(Y/N)".
The system will not make any subsequent calculations or adjustments
to any data in any other period except as explained in c. about the
loan balance for the last payment.
e. To delete a payment, overwrite "DEL" in the Payment no. field and process
as any other modification.
f. NOTE: If the last payment for a customer is deleted, it is important
to call up the previous payment and process it by specifying
it as the new last payment. Then the corresponding loan balance
will be used for future calculations.
Example: Suppose a customer has made 7 payments. Suppose the
last 7th payment is deleted. Then the 6th payment needs to be
called up. Hit return for all fields. Enter "Y" for the question
"IS THE ABOVE THE LAST PAYMENT MADE?(Y/N)" and process. The
loan balance of the 6th payment will be used for all future
calculations.
g. There is a facility to enter just the latest payment for a new customer.
It is not necessary to enter all the previous payments. It is specially
useful when copying loans from manual to computerized system.
Enter "NEW" in the payment no. field in the first screen. The system will
provide a screen with blank fields of a payment record. The details of
the last payment are to be entered and processed.
To print out sample reports, at the LOAN PLUS Main Menu, select option one
"1.ADD/MODIFY COMPANY INFORMATION" and enter "Y" at the "PRINT OUT SAMPLE
REPORTS (y/n)" prompt. Prior to printing sample reports, set your printer
to compressed print mode if you have a 80 column printer.
HOW TO ORDER:
LOAN PLUS is a shareware software with LOAN PLUS retaining all rights to
the software under the copyright laws. Please feel free to share it with
your friends. However if you like and decide to use LOAN PLUS, you are
LEGALLY OBLIGATED (WITHIN 45 DAYS of receipt of LOAN PLUS) to pay a
registration fee of $89.95 which entitles you to a registration, 200 page
manual, update notices, additional utility disk and Free phone support for
90 days. Extended support plans are available. It is a violation of
copyright laws to use LOAN PLUS other than demo purposes without
registration.
If you like and decide to use LOAN PLUS, please forward your registration
fee (or call 803-878-2100 for C.O.D. shipment) in the amount of:
$89.95 + $15.00 s/h for LOAN PLUS
to: Advanced Performance, Inc.
107 Court Street
Pickens, South Carolina 29671
Phone: 803-878-2100 Fax: 803-878-4969
Upon your registration (by phone or mail), you'll receive complete manual
(via 2nd. day air U.P.S.), update notices, additional utility disk and
phone support.
Advanced Performance, Inc.
107 Court Street
Pickens, South Carolina 29671
Phone: 803-878-2100 Fax: 803-878-4969