This article provides an overview of the PAC module, which allows you to manage payments and add additional charges. This section automatically appears once the loan is funded.
In the PAC Module, users can:
Adjust a Payment
Charge a fee
Add, Record & Schedule payments
Main Takeaway
The PAC module is a central hub for managing payments, adjustments, and charges on funded loans. It streamlines payment tracking, supports flexibility for irregular payments, and simplifies the process of applying charges, ensuring accurate loan management.
Make an Adjustment
Navigation: Payments, Adjustments & Charges > Adjustments
In this section, you have two options:
Mark as NSF / Reschedule
Mark as Unpaid / Reschedule
Mark as NSF / Reschedule
This option enables you to indicate that a payment has bounced. Two types of transactions/payments can be marked as 'NSF':
The regular/recurring borrower payment
A Charge/Fee added & 'scheduled' (via PAD/ACH)
Note: this includes renewal/extension fees and all other fees that can be scheduled into the PAC module
Features and Options:
Select Payment/Charge: Specify which payment has bounced. Select the correct payment from the dropdown
Date Recorded: Record the date that this payment officially became 'NSF'
Charge Interest:
Starting from: select the date that the interest should start accruing
Use IAD Style: defines how the interest adjustment will be calculated
-OR-
Add to future payments: Allows you to add the outstanding balance to future payments.
Charge/Fee Amount: specify whether you would like to add a charge/fee as a result of processing/handling this Delayed Payment.
Capitalize Full Amount: add this to your principal/faculty amount
Once selected, you will be prompted to distribute to the correct parties.
-OR-
Charge Interest: charge interest on the fee
Use IAD Style: defines how the interest adjustment will be calculated
Use Loan Rate or Use Custom Rate
Add to future payments: Allows you to add the outstanding balance to future payments.
Cancel: Cancel the NSF, no data will be saved.
Confirm & Add Payment: select this option to confirm the NSF and reschedule the payment for a later date.
Confirm: confirm the NSF without rescheduling.
Note: If selecting "Add to future payments", the additionally accrued interest will not be available as a seprate line in the ledger. Future payments will be calculated on the increased balance that includes all charging interest items
Mark as Unpaid/ Reschedule
Our system assumes all payments are paid on time. This section is used to mark a payment as unpaid. In other words, you can defer this payment indefinitely or to a later date.
Select Payment/Charge: specify which payment you want to mark as unpaid. You can select the payment from the dropdown.
Date Recorded: Record the date that you marked this payment as unpaid
Charge Interest:
Starting from: select the date that the interest should start accruing
Use IAD Style: defines how the interest adjustment will be calculated
-OR-
Add to future payments: Allows you to add the outstanding balance to future payments.
Defer to Renewal: Defer the payment till renewal
Charge/Fee Amount: specify whether you would like to add a charge/fee as a result of processing/handling this Delayed Payment.
Capitalize Full Amount: add this to your principal/faculty amount
Once selected, you will be prompted to distribute to the correct parties.
-OR-
Charge Interest: charge interest on the fee
Use IAD Style: defines how the interest adjustment will be calculated
Use Loan Rate or Use Custom Rate
Add to future payments: Allows you to add the outstanding balance to future payments.
Cancel: Cancel marking the payment as unpaid; no data will be saved.
Confirm & Add Payment: select this option to confirm and reschedule the payment for a later date.
Confirm: confirm the outstanding payment without rescheduling.
Charge a Fee
Navigation: Payments, Adjustments & Charges> Charge
In this section, you have two options:
One-Time
Recurring
One-Time Fee
A one-time charge enables you to charge a one-time fee. When you click this option, a pop-up window will appear where you can input the relevant details.
Charge On: specify the date that this fee is being charged (i.e. when are you notifying the Borrower that this fee is owing?)
Due On: Specify the date that the fee payment is due on.
-OR-
Defer To: select this option if you want to defer the payment till renewal or discharge/payoff.
Name: input a custom name to specify the type of charge
Notes: add some additional information for internal record purposes
Charge / Fee: specify how much is being charged (i.e. the amount)
Capitalize Full Amount: add this fee to your principal/faculty amount.
Charge Interest: charge interest on the fee.
Use Loan Rate or Use Custom Rate
Cancel: Cancel the processing of the fee; no data will be saved.
Confirm: confirm the fee.
Recurring Fee
A recurring charge enables you to charge a fee multiple times (as opposed to a one-time charge). Again, a pop-up window will appear where you can input the relevant details.
Start From: This is the date that the first fee will be charged on.
Name: input a custom name to specify the type of charge
Notes: add some additional information for internal record purposes
Frequency | # of Fees: Specify the frequency (i.e. how often this fee should be charged, such as having this fee charged on a monthly basis). Then, based on the frequency, indicate how many times this fee should be charged.
Charge / Fee: specify how much is being charged (i.e. the amount)
Capitalize Full Amount: add this fee to your principal/faculty amount.
Note: You will notice this symbol appears when entering a fee 
. Click this to distribute the fee.
Add, Record & Schedule Payments
Navigation: Payments, Adjustments and Charges> Payment
In this section, you will have 3 options:
Add a Payment (New)
Record Payment
Setup Payment Services
Add a Payment (New)
This section allows you to manage payments in one place.
In this section, you can:
Add a payment to principle
Add a payment to interest or additional reserves
Use interest or additional reserves as a payment method.
Schedule payments
Date: Select the date when a payment was added or when it is scheduled.
Method: Choose the payment method (e.g., PAD, Cheque, EFT).
In the section Method, include a number of familiar payment methods along with a couple of special options.
Capitalize as New Draw: This option converts unpaid interest, fees, or charges into a new draw on your total facility balance. Reducing the amount available for advances.
Capitalize Onto Total Facility: This option allows unpaid interest, fees, or charges to be added to your total facility balance, increasing the overall amount owed.
Capitalize as an Additional Loan: This option converts unpaid interest, fees, or charges into a separate loan, increasing the overall amount owed.
Use Prepayment Reserve: This option allows funds from the prepayment reserve to cover unpaid interest, fees, or charges.
Reference #: Input a reference number for tracking purposes.
Payment Amount: Enter the total payment amount being made
Memo: Add an optional note or description for the payment.
Interest Past Due: If the borrower owes any interest payments, they will be displayed in this section.
Fees Due: If the borrower owes fees or if fees have already been applied, you can view or add them in this section:
Principal Balance: This section displays the loan's outstanding principal balance. Entering an amount on this line will paydown the principle.
Prepayment: If prepayments are being made, you can allocate amounts in this section.
Reserve Contributions: If payments are made towards a reserve, you can allocate amounts in this section.
Create PAD/ ACH file: Create a PAD/ACH file for the payment being added. This option will only be available if the method selected is PAD or ACH.
Add Payment: Confirm and add the payment to the loan.
Notes:
Some payment method options will depend on the type of loan, as not all options are suitable for every loan type.
If you select a capitalization method, the transaction is treated the same as an advance or draw. This behaviour can be changed in Company Settings > “Capitalization via Add a Payment (New)” so that capitalized amounts are tracked separately from advances/ draws.
Record Payments
In this section, you record outstanding payments as paid.
Payment Date: Select the date when a payment was added.
Payment Method: Choose the payment method (e.g., PAD, Cheque, EFT)
From here, you will see a list of payments that the amount can be applied to.
Once you have applied the payment, select Confirm.
Setup Payment Services
This option links to the Payment Management section of the Company Settings. Here you can configure third-party credit card integrations.
FAQ
Q: What happens when I mark a payment as NSF?
A: Marking a payment as NSF reverses it and records it as a failed transaction. You can also add fees, apply interest, and choose to reschedule the payment.
Q: What is the difference between “Confirm” and “Confirm & Add Payment”?
A: Confirm saves the adjustment without scheduling a new payment. Confirm & Add Payment saves the adjustment and immediately allows you to reschedule the payment.
Q: What is the difference between “Add a Payment” and “Record Payment”?
A: Add a Payment creates or schedules a new payment. Record Payment marks an existing outstanding payment as paid.