Payment Schedule blank and Set Up Payment button greyed out in the Loan Manager.

Legacy KB ID: 3930

Why is the Payment Schedule blank and the Set Up Payment button greyed out in the Loan Manager after I’ve set up a new loan?

This will happen when you define a loan in Loan Manager using a loan account that has an opening balance of 0.00.

Workaround

If the proceeds of the loan are deposited to your Bank Account, enter a deposit to your Bank account for the proceeds of the loan:

Banking > Make Deposit > In from Account, enter your loan account > complete the form and click OK

If the proceeds of the loan are applied directly to another party, enter a General Journal:

Debit: the relevant destination account; Credit the loan account.

Now launch the Loan Manager and select your new loan. You will get a message:

The principal balance of the Loan Account is $xxx,xxx.xx. This differs from the principal balance in the Loan Manager of $0.00.

Read the rest of the box and if correct, click OK to continue.

The Set Up Payment button will now be available and the Payment Schedule tab will show your details.