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title: "How Manual Loan Repayments are Handled"
canonical: "https://bizcore.refined.site/space/BCKB/2009628719/How%20Manual%20Loan%20Repayments%20are%20Handled"
format: markdown
---
> Macro (toc)

# **Overview**

While Biz Core has integrated loan servicing methods for borrowers, such as bank account or card debits, users can also record any manual payments that are made towards the loan through BPay, cash, cheque or other arrangements external to Biz Core. This can be done in bulk using the [Bulk Payments](https://bizcore.refined.site/space/BCKB/2004910085) feature, or each manual payment can be added to the loan ledger by the user. 

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# **Manually Create a Payment Ledger**

In order to manually add individual payment ledgers users must first access the applicable loan record. After locating and opening the loan where the manual repayment will be applied users can click on the **Add Ledger** button, found above the loan ledger, to open the wizard:

![image](media://6a8dd402-cd1c-45ae-ad8a-65f8788f36d8)

From here users should select Payment from the **Ledger Type** dropdown menu:

![image](media://606a83fc-237b-403c-a639-43af612ed40c)

After this selection the required fields to record the manual payment will appear for the user to complete, each is explained below, the mandatory fields are marked with an asterisk:

- **Source Type***: Select the source the payment was made with from the dropdown menu.
- **Payment Date**: Enter the date the payment was received, or click the **Calendar **📆 icon to launch the date picker to select the date. If the payment is for the same day this field can be left blank, and it will be attributed to the current date.
- **Amount***: Input the dollar amount of the payment.
- **Reason**: Add a reason for the manual ledger entry if applicable, this will be attached to the payment ledger.
- **Note**: Input a note if required, this will be added to the messages section of the [side panel](https://bizcore.refined.site/space/BCKB/1783857153/Side+Panel#Messages).

After completing the fields as required the user can click **SUBMIT** to proceed with adding the manual payment or **CANCEL **to discard it.

After submitting a popup window will appear, confirming the dollar amount of interest that will be adjusted:

![image](media://15d1444c-83bf-4468-9488-e3dec7375142)

The system will automatically calculate and adjust the interest splits based on when the payment was received by the lender. After confirming this adjustment by clicking **SUBMIT** the ledger entry will be created:

![image](media://869ccbf1-f880-4d8e-b725-bdb8c8cb4bce)

An adjustment ledger will also be created reflecting the changes to any fees that were overcharged between the payment being made and when it was actually recorded:

![image](media://ba01a56f-f2cf-425a-99e0-8b78554b5b74)

> ℹ️ Any payments received by lenders that cannot immediately be attributed to a specific loan can also be manually added to the suspense account. [More information about that feature is available here](https://bizcore.refined.site/space/BCKB/2004844559#Add-Individual-Suspense-Account-Record).

# **Adding Manual Loan Payments in Bulk**

Users also have the option to add manual payments to their loan portfolio in bulk, using the Bulk Payments feature. [More information about how this process works can be found here](https://bizcore.refined.site/space/BCKB/2004910085).