The Loan Receipt Summary Report provides a detailed breakdown of payments received specifically for loans using the Variable Charges interest calculation method. This report allows microlenders to analyze how payments are allocated across capital, fees, insurance, and various interest types.

Overview

This report serves as a specialized extension of the standard Receipt Detail Report. It focuses exclusively on variable-charge loans, ensuring that administrators can track specific financial components of each transaction.

Note: Only loans with the Interest Calculation Method set to Variable Charges will appear in this report. Receipts for loans using other calculation methods are excluded.

Navigation & Setup

To access the report within MAXMONEY, ensure the new resource has been assigned to your user profile:

• Resource Name: Loan Receipt Summary Report

• Menu Path: Reporting > Variable Charges > Loan Receipt Summary Report

Report Fields & Definitions

The report displays the following columns for each transaction:

Field	Description
Receipt Type	Categorization of the payment received.
Branch	The branch associated with the specific loan (filterable).
Loan Receipt Capital	Portion of the payment applied to the principal balance.
Loan Receipt Fees	Portion applied to service or administrative fees.
Loan Receipt Interest	Standard interest portion of the payment.
Loan Receipt Insurance	Portion applied to insurance premiums.
In Default Interest	Calculated penalty or default interest (see formula below).
Receipt Total	The sum of all allocated components listed above.

Calculation Logic

Loan Receipt In Default Interest

The default interest is a derived value calculated using the following formula:

Reconciliation Tip:

When comparing this report to the Receipt Detail Report, you must manually set the Client Receipt Amount and Change values to 0.00 for duplicate batch codes. This is necessary because receipts may be applied at the client level across multiple loans, and this adjustment prevents double-counting the total receipt amount.

Receipt Total

The total reflects the sum of all individual allocations:

Grouping and Totals

To assist with financial balancing, the report automatically:

1. Groups all results by Receipt Type.

2. Displays Sub Totals for each Receipt Type category.

3. Calculates a Grand Total at the end of the report for the selected period/filter.