Log payment

Payments reduce a line of credit account's current balance and free up available credit. Note the following when logging payments on a line of credit account:

Payments within LMS fall into two categories:logged only and logged and processed.

Logged payments, such as cash payments, are processed externally—meaning LoanPro is not directly involved in the transfer.

Logged and processed payments, such as bank account payments, are processed internally—meaning LoanPro is directly involved in the transfer by sending information to an integrated payment processor.

If the line of credit is linked to other line of credit accounts, there are two ways to make payments:

1. individually on the child line of credit

Logging a payment on the parent line allows you to split the payment across child lines. LMS will automatically update the child lines to reflect the payment.

2. broadly on the parent line

Logging a payment on the child line allows you to apply payments on individual accounts. LMS will automatically update the parent line to reflect the payment.

Logging a payment potentially affects the balance of the line of credit account. The status of a payment determines whether it is considered when calculating account balances. Payments that have one of the following statuses will be considered in account calculations:

Active

Pending

Settled

Database

For information regarding Line of Credit and Payment database tables, see the following articles:

Database – Line of Credit Payments (line_of_credit_payment_entity)

Database – Line of Credit Payment Type (line_of_credit_payment_type_entity)

Database – Line of Credit Account (line_of_credit_entity)

{
    "entityType": "Entity.LineOfCredit",
    "entityId": 17,
    "amount": 198.38,
    "status": "lineOfCredit.transactionStatus.active",
    "applyDate": "2025-03-06",
    "description": "Payment Example",
    "paymentMethodId": 1,
    "paymentTypeId": 1,
    "isSplit": 0,
    "metadata": {
        "keyValue": "newValue"
    },
    "paymentSplitTypeId": "",
    "__logOnly": true,
    "ignoreGuardrailWarnings": false
}