Payment Management: How do I record an offline payment on Happy Mango?

When a borrower makes a payment offline to a loan that is using automatic ACH payment method on Happy Mango, the offline payment can be recorded on the "Loan Payment Schedule" page and the loan schedule will be recalculated. 

How to Record an Offline Payment

To record an offline payment, you can follow the steps below:

1. Open the target loan's Loan Payment Schedule page by using the Loan Management link on the top right drop down menu or by clicking on the hyperlinked loan number on the Active Loans page.

2. Click "Record Payment" to open up the pop-up window as shown in the image below

3. Enter the amount received and date received

4. Click "Confirm" to update the loan payment schedule

5. Review the updated Current Schedule page and Payments Made page

Important to Know When Recording Offline Payments

1. The Date of Payment for the Offline Payment may not precede the most recent Date Payment Made.  The schedule of loan payments is recalculated after each payment is made based on the timing and amount of the payment.  An offline payment should be recorded immediately when it is received. 

2. The Offline Payment Amount must be greater than the accumulated interest from the most recent Date Payment Made.  Any amount less than the accumulated interest will have no impact on reducing the unpaid principal amount. 

What You Should Expect After Recording an Offline Payment

1. The current Schedule tab should be updated with a special icon next to the offline payment.  Clicking on this icon reveals additional information related to this payment as shown below. 

2. The Payments Made tab should be updated with the additional record of the newly recorded offline payment along with its payment ID as shown below.