June 2024

Greetings, and welcome to the June 2024 edition of the Woodcore product updates. We are excited to share the latest enhancements and features introduced to Woodcore over the past month.

Let's dive in.

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New Features 🚀

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Loan Account: Reject Loan Account

This new feature enables users to reject loan accounts still awaiting approval if they do not meet the general requirements, lending policies, or criteria after evaluation. This ensures that only loans that align with industry standards are approved, streamlining the loan approval process and maintaining the integrity of lending practices.

To do this,

1. Select the loan account with a Pending tag.

2. Click the Take Action button.

3. Select the Reject action.

4. Provide an optional Note on the reason for the loan rejection. Then click the Submit button to save the progress.

5. After a successful submission, the loan status is changed to Rejected.

Loan Account Statement

Users can now generate a detailed loan account statement for an Active loan on the CBA. This feature provides comprehensive insights into loan activities, enabling users to effectively track transactions, repayments, and outstanding balances.

To generate an active loan account statement on the CBA:

1. Navigate to the Loans tab and select an active loan.

2. Select the account.

3. Click the Take Action button.

4. Click on Generate Statement, and the active loan account statement will be generated and downloaded automatically.

Search By DataTable e.g. NUBAN on Customer & Teller UI

The new search functionality allows users to locate clients using a datatable linked to a customer or savings account number, such as the NUBAN (10-digit number). Users can easily perform searches by entering the NUBAN number, enhancing the efficiency of client data retrieval.

Follow these steps to utilize the feature:

1. Go to Utilities >> Data table on the dashboard and search for a data table such as Nuban.

2. Click the edit button next.

3. Check the "Search by" box. This box allows the user to define the type of data they want to look for, allowing the system to recognize each data table as unique. Click on the Submit button to save the changes.

To perform a search,

1. Navigate to the Clients tab of the Business module on the dashboard.
2. Input the Nuban in the search area and click the Search button.
3. If the Nuban exists, the search results fetch accurate customer data.

To search by Nuban on the Account Entries,

1. Navigate to the Account Entries tab of the Accounting module on the dashboard.
2. Input the Nuban in the Customer Name/ID entry on the Customer.
3. If the Nuban exists, the search result returns both the customer account and the savings account numbers.

To search for a customer by Nuban on the Teller UI,

1. Log into the teller UI and navigate to the Transaction tab on the dashboard.
2. Input the Nuban in the Search Customer entry.
3. The UI returns the customer information if the Nuban exists.

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Improvements 🌟

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Loan Transactions Sequential Arrangement

Loan transactions on the CBA are now organized chronologically, allowing users to sort transactions in descending or ascending order. This improvement also includes the ability to find transactions using the transaction ID, making it easier to locate specific transactions and maintain a well-organized transaction history.

To utilize this feature,

1. Navigate to the Loans section of the dashboard and select a loan account.

2. Click on the Transactions tab to display all the loan transactions. You can then select the arrow (->) icon to chronologically display transactions in ascending or descending order.

Reports

• Update to Daily Transaction Report: The daily transaction report has been enhanced to include all reversed transactions across the loan and savings transaction sheets. Additionally, customer names and account numbers have been added to the GL sheet on the CBA, providing more detailed and accurate reporting.

• Add GL Code to All Financial Reports (Profit & Loss): This improvement integrates the GL code into all financial reports, offering more insights into financial data.

• Update to Loan Officer Portfolio Report: Enhancements have been made to the Loan Officer Portfolio Report to improve its accuracy and comprehensiveness.

• Update to PAR Report: Improvements have been made to the PAR (Portfolio at Risk) Report, providing better insights and analysis.

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API Updates ✨

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NIP Lite Methods

Several updates and fixes related to the NIP Lite methods have been implemented to improve performance and reliability. For more details, refer to its documentation.