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Issue #8
1. Automatic Record Numbering 2. Global Provision for Loss – Setup and Update 3. Recording Prepayments 4. Linking Guarantors to a Loan Record 5. When a TEA User Leaves Your Organization 6. Customer Service
1. Automatic Record Numbering New in version 9.16, TEA provides the ability to automatically number records in its modules. For those organizations who don’t include letters in their numbering schemes, automatic numbering can be a real time-saver when adding new records to TEA. Instead of manually searching for the last number used, TEA determines the next unique number in line and assigns it to the field for you automatically. If you choose to let the system generate the number, the fields become non-editable in TEA in order to maintain the integrity of the system and the uniqueness of the number. Please refer to the Automatic Record Numbering technical document for further details. 2. Global Provision for Loss – Setup and Update New in version 9.16, you can now allow TEA to calculate and apply the required Doubtful amounts for loans in your loan portfolio. After some initial setup in the TEA Administration Module, you can quickly and easily update your entire loan portfolio on a regular basis to maintain accurate Provision for Loss (Doubtful) amounts for each of your loans. When TEA calculates the Provision for Loss it actually posts a transaction into the Loan Transactions. Providing you have configured TEA (Admin Module \| Accounting Setup) to post loan loss provisions to your accounting, this update will actually create the journal entries required for your General Ledger. Although it is standard practice to calculate a loan loss reserve on accounts where there is an elevated risk of recovering capital, in many cases organizations do not always employ a consistent process to calculate the loan loss reserves. With the addition of the Global Provision for loss feature in TEA, you can now apply some consistent logical practices to calculating your reserves based on a customized risk rating (delinquency aging). Using this mode, all accounts are treated the same and it provides an accurate picture of your collectible portfolio. Please refer to the Global Provision for Loss-Setup and Update technical document for further details. 3. Recording Prepayments If a client makes an unscheduled payment in addition to his usual payment, the additional payment may be recorded as a prepayment. Prepayments do not affect the delinquency journal. Prior to this option, if an unscheduled payment (balloon) was received, a payment would be applied to the delinquency journal without a corresponding invoice and would in turn result in a negative balance in the delinquency journal. When this occurred it would typically preclude the client from appearing on the delinquency report until the negative amount was corrected. With the addition of the prepayment option, you can now identify a prepayment and the delinquency journal is not affected by the transaction. If a payment includes both a current payment and a prepayment portion, they should be entered as two separate payments so that the current payment is applied correctly and the prepayment is excluded from the delinquency journal. To record a prepayment: From within the appropriate loan record, select Transactions \| New. Enter the Payment Date. Set Action to Payment. Set Sub-Action to Regular. Enter the Payment Amount. Select the Prepayment check box so that it appears checked. Click Calculate and then click Post Click Close to close the New Transaction dialog 4. Linking Guarantors to a Loan Record Guarantors of a loan may be added to the Rolodex module and then linked to the appropriate loan. Once they are linked to a loan, the guarantors will appear in the insurance particulars screen so that life and disability insurance may be charged to them. A details screen has been added to rolodex records so that details such as the sex and date of birth of the guarantor may be added. To link a guarantor to a loan: From within the Loan module, double-click to open the appropriate loan record. Select Guarantors from the navigation tree. Click New. Click the Add New Contact to Rolodex button. Enter the personal information about the guarantor. Click Save and Close. Select the guarantor’s name from the list of available names and move it to the Selected box. Click OK 5. When a TEA User Leaves Your Organization When a loan officer or staff member who uses TEA leaves your organization it is recommended that you Edit their information in the TEA Administration Module. It is not recommended that you Delete them as you will lose all tasks, reminders, and any associations with this user. From within the TEA Administration Module \| User Management \| TEA we recommend that you select the appropriate user from the User List tab, click the User’s Data tab and remove the Active and User is Administrator check mark(s), if applicable. You will need to edit the Analyst record for the user as well. From within the TEA Administration Module \| Analyst Setup, select the analyst’s name, click the Edit button and remove the active check mark. Do not delete the analyst. Customer service For customer service or technical questions regarding TEA IX, login to the online TEA Support page. You must use your assigned Username and Password to access the Support area. If you have lost or misplaced your login information, please contact TEA Support and we will email this information to you.
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New in version 9.16, TEA provides the ability to automatically number records in its modules. For those organizations who don’t include letters in their numbering schemes, automatic numbering can be a real time-saver when adding new records to TEA. Instead of manually searching for the last number used, TEA determines the next unique number in line and assigns it to the field for you automatically. If you choose to let the system generate the number, the fields become non-editable in TEA in order to maintain the integrity of the system and the uniqueness of the number. Please refer to the Automatic Record Numbering technical document for further details.

New in version 9.16, you can now allow TEA to calculate and apply the required Doubtful amounts for loans in your loan portfolio. After some initial setup in the TEA Administration Module, you can quickly and easily update your entire loan portfolio on a regular basis to maintain accurate Provision for Loss (Doubtful) amounts for each of your loans. When TEA calculates the Provision for Loss it actually posts a transaction into the Loan Transactions. Providing you have configured TEA (Admin Module | Accounting Setup) to post loan loss provisions to your accounting, this update will actually create the journal entries required for your General Ledger.

Although it is standard practice to calculate a loan loss reserve on accounts where there is an elevated risk of recovering capital, in many cases organizations do not always employ a consistent process to calculate the loan loss reserves. With the addition of the Global Provision for loss feature in TEA, you can now apply some consistent logical practices to calculating your reserves based on a customized risk rating (delinquency aging). Using this mode, all accounts are treated the same and it provides an accurate picture of your collectible portfolio. Please refer to the Global Provision for Loss-Setup and Update technical document for further details.

If a client makes an unscheduled payment in addition to his usual payment, the additional payment may be recorded as a prepayment. Prepayments do not affect the delinquency journal. Prior to this option, if an unscheduled payment (balloon) was received, a payment would be applied to the delinquency journal without a corresponding invoice and would in turn result in a negative balance in the delinquency journal. When this occurred it would typically preclude the client from appearing on the delinquency report until the negative amount was corrected. With the addition of the prepayment option, you can now identify a prepayment and the delinquency journal is not affected by the transaction. If a payment includes both a current payment and a prepayment portion, they should be entered as two separate payments so that the current payment is applied correctly and the prepayment is excluded from the delinquency journal.

Guarantors of a loan may be added to the Rolodex module and then linked to the appropriate loan. Once they are linked to a loan, the guarantors will appear in the insurance particulars screen so that life and disability insurance may be charged to them. A details screen has been added to rolodex records so that details such as the sex and date of birth of the guarantor may be added.

To link a guarantor to a loan:

When a loan officer or staff member who uses TEA leaves your organization it is recommended that you Edit their information in the TEA Administration Module. It is not recommended that you Delete them as you will lose all tasks, reminders, and any associations with this user. From within the TEA Administration Module | User Management | TEA we recommend that you select the appropriate user from the User List tab, click the User’s Data tab and remove the Active and User is Administrator check mark(s), if applicable.

You will need to edit the Analyst record for the user as well. From within the TEA Administration Module | Analyst Setup, select the analyst’s name, click the Edit button and remove the active check mark. Do not delete the analyst.

For customer service or technical questions regarding TEA IX, login to the online TEA Support page. You must use your assigned Username and Password to access the Support area. If you have lost or misplaced your login information, please contact TEA Support and we will email this information to you.