Renew an inward or outward loan
You can automate the process of inward or outward loan renewal.
Overview
If an Inward Loan or Outward Loan record has a procedural status of Renewal Approved, then you can renew it.
The system will:
-
Progress the original loan to a status of Renewal Generated.
-
Create a new record for the renewed loan with a status of Renewed Loan.
You can view the previous loan on the Other Details/Renewal tab in the Previous Loans table.
The start date of the renewed loan is one day after the end date of the previous loan.
Steps
-
Go the Tools menu, then Activities Management, then click Inward Loan Renewal or Outward Loan Renewal.
-
The system will ask if you wish to renew the loan. Click Yes.
-
The renewed loan record will display on your screen.
