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.
Once the loan is voided, the loan icon will indicate that the loan has been canceled.
Security privilege for this feature is configured with the LOAN > Void Loan option in the user/group Privileges tab.