How to Refinance on Kwara Core using Control Accounts Workaround.

(1) Log in to https://app.kwara.com/
(2) Search for the member and click on their profile.

(3) Navigate to the member's loans. Click on 'View' to open the loan account. 

(4) Select the 'Add repayment' option, add the amount (loan balance), and select the value date. Select 'Control account' under 'Method' and enter the mapped GL account(5) Click 'Submit' to close the loan.
(6) On the left menu, select 'Loans'. Click on 'Add loan' option on the top-right to initiate a new loan application. 
(7)Search for the member and initiate the loan application by selecting the loan product.
(8) Add the principal of the new loan, loan duration, and dates accordingly. 
(9) Click 'Next' to specify the loan classification. 
(10) Under 'Loan charges' section, click on 'Apply fee' and select the 'Deducted disbursement fee'.
(11) Click on 'Edit' and add the amount equivalent to the amount that was paid off in the closed loan. 
(12) Add any other charges as appropriate.
(13) Proceed with the new loan application and click on Submit. 
(14) Appraise the loan. Note that the net disbursal will be the principal less the refinance fee (deducted disbursement fee) and any other applicable charges.
(15) Disburse the loan accordingly.
(10) Success! The refinance is complete. 

Note: 

1. When paying off multiple loans, each loan must be paid off and closed individually. Then, when adding a fee, sum up the total amount of the loans paid off and enter that sum as a single fee.
2. If your SACCO does not have the control account, kindly contact us on support@kwara.com for configuration assistance