Loan Disbursement Reversal

This feature aims at improving the accuracy and flexibility of loan management. it gives admin the ability to reverse loan disbursements through the teller. This implementation allows tellers to correct errors in loan disbursements under specific conditions. This feature is designed to enhance operational efficiency and reduce the impact of accidental disbursements.

Conditions for Disbursement Reversal

• The loan must have been disbursed via the teller.
• No repayments should have been made on the loan.
• No insurance should be added to the loan.

How It Works:

• Tellers can now use a specific transaction type called “Error Correction” to revert the disbursement of a loan.
• This ensures that the original disbursement transaction is accurately and securely reversed without affecting other aspects of the loan.
• This feature allows for immediate correction of disbursement errors, ensuring that loan records remain accurate and up-to-date.

Steps

• Under Teller option ensure the “client ledger” is checked
• Account type is Loan
• Transaction type is Error correction
• Account details is member account
• Ensure “Disburse” is checked
• Check the loan to be disbursed.
• Transaction mode is Reversal
• Submit the transaction