Screen ID: Screen Title: Panel Number:
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TDBTB-02 Loan Disbursement 1486 |
Access this screen by entering an account number and pressing Enter on the previous screen.
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Check out the video related to this topic: Creating a Loan Account and Disbursing Funds (More videos below!) |
Learn how to complete tasks related to opening a new loan and disbursing loan funds.
This is the second of two screens used to process loan disbursements. The Disburse by column on the left side of the screen enables you to disburse cash, create a check, transfer loan funds to a member's account, or transfer loan funds to a credit union G/L account. The Session Totals column on the right side of the screen will update each time you use Enter to show how the total funds are being disbursed.
For example, suppose a member has a disbursement limit of $5,000, but does not wish the entire amount at one time. Instead, he chooses to have $1,000 in a credit union check made payable to his brother, and a $500 transfer to his checking account. At the same time, you may also deduct a loan processing fee of $10.00 and transfer it to the proper G/L account.
Enter an amount using one of the methods in the Disburse by column. If paying by check, be sure to complete the Pay to the order of and Remitter fields to indicate how the check should be printed. Use Enter to post the transaction and refresh the screen. Repeat as needed until all desired funds have been disbursed.
CU*TIP: If this check needs to be made out to one of your indirect lending partners (i.e., a car dealer), use the Pay to Dealer button (F16) to search your Indirect/Dealer Lending list and automatically fill in the Pay to fields with the name and address from that database. SEE ALSO: Configuring Dealer Information
When the entire amount has been disbursed as requested, use New Account (F5) to return to the previous screen. Be sure to check the Session totals fields to be sure disbursements have been processed as requested. A common mistake is to neglect to use Enter after the final amount has been typed.
· Use Misc Accounting Checks (F12) to create a check drawn against a credit union G/L account, rather than against the member's loan. This is handy for situations where a portion of the loan disbursement is paid by the credit union, such as an appraisal fee.
A Pay to Name fraud block list scan is run against the name entered in the Pay to line. Take care to enter the Pay to name in a way that the scan will most effectively be run. If the Pay To Name is a match or partial match to the name in the block list, you will see a Suspect warning message.
Learn more about Fraud Block Lists: Overview: Fraud Block Lists
Field Name |
Description |
Disbursement limit |
The total amount for which the loan was approved. |
Total disbursed |
The total amount that was already disbursed to the member, if any. |
Tran F/C |
(Appears only for online credit card loan accounts.) A total of any transaction charges assessed to the credit card loan during this session (such as cash advance fees). SEE ALSO: Online Credit Card Processing User Guide (NOTE: A PDF version of this booklet will open.) |
Charge type |
(Appears only for online credit card loan accounts.) Use these fields to define the type of withdrawal being made. Enter both a charge type (CA=Cash Advance, PU=Purchase, BT=Balance Transfer) and the program number (usually 999). Click the lookup button to choose from a list of your credit union's configured charge types. SEE ALSO: Online Credit Card Processing User Guide(NOTE: A PDF version of this booklet will open.) |
Trx Chg |
(Appears only for online credit card loan accounts.) Check this flag if the configured transaction charge should apply in this transaction, such as cash advance fees. If a transaction charge is configured in the loan category configuration, it will be assessed on the loan in addition to the disbursement amount. (Watch the Tran F/C total on the right side of the screen, which will accumulate as charges are assessed; this amount will be subtracted from the net available so the account won't be overdrawn.) SEE ALSO: Online Credit Card Processing User Guide(NOTE: A PDF version of this booklet will open.) |
Disburse
By |
Use these columns to enter the amount and method to be used for disbursing funds. Only one method can be used at a time, but several methods can be used within the same session. Therefore, enter the amount for one method, use Enter to record it, then enter the amount for the next method, and so on.
The methods available for disbursing funds are as follows: Cash - Funds disbursed in cash.
C/U check - Funds disbursed via a credit union check. Draft payable - Funds transferred to the G/L account specified in the Master Configuration. (used to generate a draft payable at the credit union to use as a sort of “pre-approval” documentation at a car dealership.) Member transfer - Funds transferred directly to a member account.
G/L transfer - Funds transferred to a credit union G/L account, such as an account for loan processing fees.
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Session totals |
These fields will update each time Enter is used, to show the total amount already disbursed during this session.
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Net available |
This field shows the difference between Disbursement lmt and Total disbursed plus all the Session totals. When all funds have been disbursed, this field will be at zero. |
Pay to the order of |
If disbursing funds via check, enter a name and address to appear on the printed check. |
Remitter |
If disbursing funds via check, enter the name (if any) to be printed as the remitter name on the printed check. |
Button |
Description |
New Account (F5) |
Use this to return to the previous screen and select a different loan. |
Misc Accounting Checks (F12) |
Use this to create a check drawn against a credit union G/L account, rather than against the member's loan. This is handy for situations where a portion of the loan disbursement is paid by the credit union, such as an appraisal fee. |
Pay to Dealer (F16) |
If this check needs to be made out to one of your indirect lending partners (i.e., a car dealer), use the Pay to Dealer button (or F16) to search your Indirect/Dealer Lending list and automatically fill in the Pay to fields with the name and address from that database. SEE ALSO: Configuring Dealer Information |
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Check out these additional video resources! |
Disburse Member Loan Funds Option
Disbursing Funds for Booked Loans
Processing a Loan Request for a Non-Member
Visit the CU*BASE video library.
Link to ID: https://help.cubase.org/cubase/cubase.htm#TDBTB-02.htm