The Inward and Outward Loan Renewal tool allows you to manage the renewal process. When a loan is renewed, the system automatically creates a new record for the renewed loan with relevant details transferred from the original loan record. The original loan record can then retain the details, such as the original start and end dates, for the first phase of the loan.
There are several details about the Loan Renewal tool that you can configure in the Activities Configuration:
oThe procedural status that a record must have in order to be able to use the Inward and Outward Loan Renew tools
oThe procedural status that will be given to the original loan record
oThe procedural status that will be given to the record for the renewed loan
oThe fields that will be copied from the original loan to the renewed loan record
