Editing a Loan

A loan can be edited only if it is still in the Processing state. In this state, the user can edit any field. Once the loan has been approved, to edit the loan the user must first undo the approval. Undoing the approval reverts the loan back to the Processing state. If the loan has already been disbursed (Open state), the user must undo the disbursement to revert back to the approved state and then undo the approval to revert back to the Processing state to be able to edit.

If you undo a disbursement, the system will undo all the journal entries that were done during the disbursement. The system keeps track of all the activities done on a loan using the audit trail. To view the journal entries, you can select the necessary accounts on the ledger.