What is a payout deduction?
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A payout deduction is a method of settling an outstanding balance by deducting it from the next loan disbursement.
For instance, if a client owes R100, and they apply for a new loan, the operator can create a manual receipt using the payout deduction method.
When the new loan is disbursed, the outstanding R100 will be deducted from the total amount, and the client will receive the remaining balance.
This approach is particularly useful for clients with smaller outstanding amounts.
Mobiloan will hold the payout deduction receipt in the "Suspense Transactions" table until the client's next loan is disbursed. During this time, the receipt cannot be reconciled, ensuring that reconciliation only occurs when a new loan is paid out.
This serves as a security measure to prevent the posting of fraudulent receipts.
