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Docs/BHPH financing

Collections aging and payoff

Track delinquency in the collections aging view, pull a payoff quote, pay a loan off, and set loan statuses.

Who: Owner, Manager, or AccountingPlan: All plans

Your in-house (BHPH) loans live under Accounts. This page covers three jobs: watching who is behind (collections aging), quoting and recording a payoff, and setting a loan's status.

See who is behind (collections aging)

The Collections view shows your whole portfolio's delinquency at a glance.

  1. Go to Accounts.
  2. Click Collections (top right).
  3. Read the four KPIs across the top: Active accounts (every open account being serviced — active, defaulted, and repossessed loans), Outstanding principal, Past due (total dollars overdue), and Delinquent accounts (how many are behind).
  4. Scan the Aging buckets by days past due: Current, 1–30 days, 31–60 days, 61–90 days, and 90+ days. Each card shows the count and the past-due dollars in that bucket.
  5. Work the Most delinquent table — it lists the worst accounts first, with days past due, past-due amount, and balance. Click any loan # to open that loan and take action.

Aging is calculated live from each loan's payment history every time you open the page — there's no nightly batch to wait on. It covers open loans only: active, defaulted, and repossessed. Paid-off, cancelled, and charged-off loans drop off the list.

Pull a payoff quote

Use this to tell a borrower exactly what it takes to close out the loan on a given day.

  1. Open the loan from Accounts (or from the Collections table).
  2. Click Payoff quote.
  3. Set the Good through date (defaults to today).
  4. Click Compute.
  5. Read the breakdown: Principal, Accrued interest, Fees, and the total Payoff through that date.

Interest accrues daily, so a payoff quote is only good through the date you picked. If the borrower pays a day later, the payoff is a little higher. Re-quote for the actual pay date.

Record a payoff (pay the loan off)

There is no separate "mark paid" button. A loan becomes Paid off automatically when a payment drives the principal balance to zero.

  1. Open the loan and click Record payment.
  2. Click the Payoff button next to the amount — it fills in today's payoff total for you.
  3. Pick the Method (Cash, Check, Card, ACH, Debit, Money order, Other) and the Effective date, and add a Reference (check #, confirmation) if you have one.
  4. Click Record payment.
  5. The principal hits zero and the loan status flips to Paid off on its own.

The amount applies in order: fees → interest → principal, as of the effective date. The form is protected against double-recording — a double-click, retry, or reload after a network hiccup won't post the payment twice.

Loan statuses

A loan's status badge shows at the top of the loan page. Possible values:

  • Active — open and being serviced (the normal state).
  • Paid off — principal is zero. Reached only by paying it off; this status is terminal.
  • Defaulted — flagged as in default by you.
  • Charged off — written off. Charging off freezes interest accrual from that date.
  • Repossessed — the vehicle has been repossessed.
  • Cancelled — voided loan; terminal.

Change a status

  1. Open the loan and click Status.
  2. Pick the New status and add an optional Reason (it's appended to the loan notes).
  3. Click Update status.

Only owners and managers can change a loan's status. You can't pick Paid off here — that only happens by recording a payoff. Paid off and Cancelled are dead ends (no moves out). A Charged off loan can only move back to Active, which un-freezes interest and clears the charge-off date — use that to undo a mistaken charge-off.

Who can do what

  • Payoff quote — any signed-in team member can view it.
  • Record payment / payoff — owners, managers, or accounting (booking money).
  • Change status (default, charge off, repossess, cancel, reactivate) — owners and managers only.

FAQ

How do I mark a loan as paid?

You don't mark it manually. Record a payment for the full payoff amount (use the Payoff button to fill it in). When principal reaches zero, the loan flips to Paid off automatically.

What's the difference between charged off and written off?

They're the same thing here — the status is labeled Charged off. It writes the loan off and freezes interest from the charge-off date forward.

I charged off a loan by mistake. Can I undo it?

Yes. Open the loan, click Status, and move it back to Active. That clears the charge-off date and resumes interest accrual. (Charged off → Active is the only move out of charged off.)

Why isn't a loan showing in Collections?

The aging view only includes open loans (active, defaulted, repossessed). If the loan is Paid off, Cancelled, or Charged off, it won't appear. Loans that are current (not past due) also won't show in Most delinquent, but they're counted in the Current bucket.

Does a payoff quote include late fees?

Yes. The quote breaks out Principal, Accrued interest, and Fees, and the Payoff through total includes all three. (Fees only appear once your dealership has charged them — late and NSF fees are off until you configure them.)

Can I take a partial payment instead of the full payoff?

Yes. Just enter the amount the borrower is paying in Record payment instead of clicking Payoff. It applies fees → interest → principal, and the loan stays open (it only flips to Paid off once principal reaches zero).