How to reverse a loan payout?
#loan_menu_options
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#loan_menu_options
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If an incorrect payout method was chosen, you can reverse the payout without canceling the loan entirely. Reversing a payout will reset the loan status to Approved, allowing you to reprocess the payout correctly.
Access the loan by navigating to Origination > Active Loans or by opening the Client Ledger under Transaction > Client and selecting the loan you wish to reverse.
Next, go to the Loan Menu for the selected loan and choose the "Reverse Payout" option.
You will then be directed to the Reverse Payout screen.
If the Reverse Payout option is unavailable, escalate the request to a user with the necessary permissions (e.g., Branch Manager or Operations Manager).
On the Reverse Payout screen, the user must choose a reversal action. They can either:
Reverse the payout transaction only – This keeps the loan active and allows for a new payout.
Cancel the loan entirely – Recommended if no new payout is required.
Additionally, a reason for the reversal must be provided.
See the screenshot below for reference.
Reverse Payout Transaction Only (Keeps Promissory Note Active)
Changes the loan status back to Approved, allowing it to be repaid via Verify Payout.
Refunds the Capital Payout.
Cancels any collection tickets (if cash-based).
Sends an email notification to the Branch Manager.
Reverse Payout Transaction & Cancel Loan (Cancels Promissory Note)
Changes the loan status to Reversed (sent to SACCRA for resubmission at the end of the day).
Refunds the Capital Payout.
Cancels any collection tickets (if cash-based).
Cancels the active Promissory Note.
Sends an email notification to the Branch Manager.
