Set Up Loan Information

Security: Setup: Loan
domain in the Common Financial Management functional area.

Set up loan investor types using the

Maintain Loan Investor Types

task.

Set up loan referral types using the

Maintain Loan Referral Types

task.

Set up any custom fields that you want to use for your loan.

Customize customer and supplier loan details specific to your organization for reporting and tracking.

Access the

Create Loan

task.

As you complete the task, consider:

Option	Description
Loan Number	Enter a value you want to associate with the loan for reporting and transactions. You can use the same loan number more than once, such as when you record loans from more than 1 company with the same loan number.
Vintage Date	Enter the original close year for the loan.
Investor Type	You can define the types of investors that are specific to your organization using the Maintain Loan Investor Types task. You can typically categorize investor types under these categories: Traditional financiers like banks. Hard money investors. Portfolio investors.
Referral Type	Enter the type of referrer that assisted with the loan origination. Referrers can include: Financial consultants. Loan brokers. Real estate agents. You can define the specific referral types for your organization in the Maintain Loan Referral Types task.
Related Worktags	Set up related worktags for this object using the related worktag types that you configure on the Maintain Related Worktag Usage task. Workday automatically populates transactions with the values in the Default Worktag column when you select the object on the transaction.

Use the loan worktag object to track loan transactions, and generate reports on specific loans for these transactions:

Customer invoices

Customer invoice adjustments

Cash sales

Supplier invoices

Supplier invoice adjustments

Ad hoc payments

Ad hoc bank transactions

Accounting journals

You can add custom fields to the loan using the

Create Custom Objects

task.