Receipt Summary

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After selecting the receipt event and date, this screen provides a summary of the client's loan status and allows you to enter the payment amount and specify how it should be allocated.

1. General Information (Read-Only)

This section displays the details you entered on the previous screen.

Effective Date: The date the payment will affect interest calculations.
Transaction Date: The date the payment will reflect on the general ledger.
Receipt Event: The type of payment being made (e.g., Cash Receipt).

2. Loan Amounts Summary (Read-Only)

This section gives you a real-time overview of the client's financial position.

Field Name	Description
Total Outstanding	The full, outstanding balance on the loan agreement.
Settlement Amount	The exact amount required to settle the loan in full today, including all interest and fees up to this point. For legal reference, see Section 125 of the National Credit Act (Act 34 of 2005).
Instalment Amount(s) due	The total value of all loan instalments that are currently due or overdue.
Non-Loan Debt	Displays any debit amount on the client's account that is not part of a formal loan.

3. Receipt Details and Actions

This is where you process the payment.

Field Name	Description & Rules
Ignore Settlement	Select this checkbox if you are receiving the full settlement amount but do not want the system to automatically close the loan.
Force Settlement	Select this checkbox if you want to settle the loan, even if the amount being paid is less than the full settlement amount.
Print Receipt	Select this checkbox if you want to print a receipt immediately after finishing. Receipts can also be reprinted later.
Reference Number	If your system requires a reference number for this type of transaction, you must enter it here. Otherwise, the system will auto-generate one.
Amount Received	(Required) Enter the total amount of money you have received from the client.
Loan Receipt Amount	Enter the portion of the "Amount Received" that should be allocated to the client's loan(s). You cannot allocate more than the "Settlement Amount".
Amount NOT to Allocate Against Loan	(Read-Only) This field automatically calculates any overpayment (`Amount Received - Loan Receipt Amount`). This amount is considered change to be given back to the client.
Note	An optional field to add a short note or comment about this specific receipt.

Important Notes on Payment Allocation

The system automatically allocates the Amount Received based on these rules:

If the Amount Received is less than or equal to the Settlement Amount, the full amount is automatically placed in the Loan Receipt Amount field.
If the Amount Received is greater than the Settlement Amount, the system will allocate the exact Settlement Amount to the loan and place the overpayment in the Amount NOT to Allocate Against Loan field as change due to the client.

Administrator Setup Note: Early Settlement

For the "Force Settlement" feature to work correctly, an Administrator must first create an "Early Settlement" financial ledger and event in the system setup. This is a one-time setup.

Financial Ledger Setup:

Setting	Value
Main Account Number	3220
Sub Account Number	0000
Description	Early Settlement
Control Account Type	General
Financial Report	Statement of Financial Performance
Display in Financial Category	Other Expenses (Expenses)

Financial Event Setup:

Setting	Value
Description	Early Settlement
Transaction Description	Early Settlement
DR (Debit)	3220/000 (Early Settlement)
CR (Credit)	6620/000 (Client Control Account)
Event Attribute	Early Settlement

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