This article provides step-by-step instructions on how to add a one-time or recurring fee/charge to a funded loan file in the PAC module.
Navigation: Payments, Adjustments & Charges> Charge
There are 2 different ways to charge fees:
One-Time
Recurring
One-Time
A One-Time Charge enables you to charge a one-time fee. When selected, a pop-up window appears to input the necessary details:
Select the date the fee was Charged On. Typically, this is the day the borrower was informed of the fee.
Set a date for when this charge is Due On or Defer To Discharge or Renewal
Add a custom Name to describe the charge.
(Optional) Include internal Notes for record-keeping, which appear in the ledger and may appear in reports depending on configuration.
Enter the Charge/Fee amount to be charged.
Once the charge amount is entered, you can select additional payment treatments:
Capitalize Full Amount: Add the full fee to the loan’s principal balance.
-OR-
Charge Interest: Apply the current loan rate or use a custom rate.
Select Confirm to finalize the charge.
Recurring Fee
A Recurring Charge allows you to apply a fee multiple times over a certain period of time. A pop-up window will appear to configure the details:
Select the Start From date; this will be the date the fees start from.
Add a custom Name to describe the charge.
(Optional) Include internal Notes for record-keeping, which appear in the ledger and may appear in reports depending on configuration.
Select the Frequency of the fees (monthly, weekly, biweekly, etc.)
Enter the # of Fees; for example, if you want the fee to be charged every month for the next year, enter 12.
Enter the Charge/Fee amount
(Optional) Select Capitalize Full Amount to add the total fee to the loan’s principal balance.
Note: Select this icon( 
)to distribute the fees to the correct entities. If no entity is selected, the system will automatically allocate the payment to the lending company.
FAQ
Q: Are all fees visible in the loan ledger?
A: Yes. All fees added through the PAC module are recorded in the loan ledger for full transparency and tracking.
Q: Can I change or delete a one-time fee after it has been confirmed?
A: Once a one-time fee has been confirmed, it cannot be edited directly. However, you can always delete it using the trashcan icon in PAC or Loan Change History.
Q: Is it possible to stop or cancel a recurring fee early?
A: Yes, you can delete individual fees within the overall recurring fee using the trashcan icon in PAC.