Void Loan Voiding a Loan

NLS 5.11 and later

Active loans may be voided prior to any payments having been made on the loan.

When a loan is voided:

  • any checks associated with the loan are voided

  • all transactions/vouchers are reversed

  • loan status is set to cancelled and will not be reported to a credit bureau

To void a loan, query the loan and click Void Loan.

Void Loan Command

Once the loan is voided, the loan icon will indicate that the loan has been canceled.

Security

Security privilege for this feature is configured with the LOAN > Void Loan option in the user/group Privileges tab.

NLS 5.21 and later

The security setting has no bearing on the VoidLoan attribute in <LOAN> XML import. Users without the Void Loan privilege may still void a loan through XML import.