Loan Manager – Latest Posts
Intercompany Loan Management with a Loan Servicing Software
Intercompany loans Very often, when a company has many subsidiaries, branches or franchises, the head office will afford loans to these other entities. These subsidiaries in turn can lend to other entities and so forth. These intercompany loans often represent quite a challenge to the accountants and controllers since the loans are not part of […]
How to extend a loan once the loan has reached a maturity? Term is to be extended by 48 months.
Question: How to extend a loan once the loan has reached a maturity? Term is to be extended by 48 months. Answer: As you may know, Margill Loan Manager is probably the most visual software on the market so this kind of change takes a second. In the payment schedule, simply click on the icon […]
Can you walk me through how I would update MLM to the latest version on the Cloud?
Question: My Margill Loan Manager is installed on a server on the Cloud. It wants to have me input a path and so on, and I was not comfortable starting it. It also said to back up MLM data first, and I am not sure if that is necessary for me given that we have […]
Can Margill Loan Manager do progressive Advances to my clients?
Question: Can Margill Loan Manager do progressive Advances to my clients? For example, my borrower was authorized for a $100,000 loan but this will be disbursed in stages. So 15,000 one day, 10,000 another and so forth… Answer: Short answer… very easily… You first create a new Record. In this case the first advance of […]
Margill Loan Manager – Principal and Interest forecast
Question: I need to break down the due payment for the next fiscal into Due payment interest portion total and Due payment principal portion. Answer: If you are on version 4.3 and above (go to https://www.margill.com/get to download) go to Reports > Personalized Reports > Record List (Customized) with Period Breaks. 1) Report template Click […]
If a client makes a payment, how do I feed that into the program?
Question: Hi – I’ve been giving your software a trial, and really like it. The only thing I haven’t been able to do is feed information into the ledger. For example, if a client makes a payment, how do I feed that into the program? How does it know when a payment hasn’t been made? […]
Margill Loan Manager – General Ledger (GL) Accounts
Questions: 1. In terms of the accounting report and accounting identifiers, are these captured at the borrower level, or the record level? How is this selection made and where is it used/displayed on the accounting report? 2. In our accounts we split interest accrued and other fees by product type, i.e. a separate GL account […]
How to setup weekly or biweekly payments
Question: How to setup weekly or biweekly payments in Margill Loan Manager? Answer: When creating a new record, set up the Period of Payments at ”By day(s)” and input 7 for weekly or 14 for biweekly payments. We also suggest that you setup the Compounding Period to match the Period of Payments.
Typical questions before software purchase – Margill Loan Manager
Questions: We are a secured lender, our loans are secured against properties. Does the system allow us to input details of the property and loan to value against each loan? How do I do this? Will the system give me an overview of our loan book as a whole? Some clients pay monthly, some clients we […]
Why are there two sets of Custom Fields in Margill Loan Manager?
Question: Why are there two sets of Custom fields in Margill Loan Manager?