How to backdate Refinance loans using control accounts on Kwara.

(1) Login to https://app.kwara.com/
(2) Search for the member you would like to refinance their loan
(3) Go to the loan in question
(4) Click on the add repayment option, select bank deposit and then under GL transfer select control account
(5) Add the amount that was paid off during the refinance.
(6) Close the loan.
(7) Click on the add loan option, add the new loan
(8) Add the deducted disbursement fee (Refinance Fee) equivalent to the amount that was paid off in the old loan.
(9) Proceed with the loan application as usual until the disbursement stage
(10) Success! The refinance is complete. 

Important: The above steps do not work with top-ups. 

Note: When paying off multiple loans, each loan must be paid off individually. Then, when adding a fee, sum up the total amount of the loans paid off and enter that sum as a single fee 

If your sacco does not have control account, kindly contact us on [email protected] for configuration assistance.