# Collection Adjustment

The **Collection Adjustment** module is used to search for an existing contract, review its financial details, and manage collections, accruals, and rescheduling of payment schedules. This module helps users accurately track outstanding amounts and maintain proper collection records.

#### **Accessing the Collection Adjustment Page**

When the **Collection Adjustment** page is opened, the user must first search for a contract. Actions cannot be performed without selecting a contract.

<span style="color: rgb(132, 63, 161);">*Collection Adjustment page displays Active, Refinance, and Closed contracts.*</span>

##### **Search Filters**

The page provides **three search filters** to locate a contract:

1. **NCN** – Search using the NCN number
2. **Contract Number** – Search using the contract number
3. **Pending Penalty** – Filter contracts with pending penalties

After entering the required search criteria, click **Search** to view matching contracts.

##### **Selecting a Contract**

Once the contract list is displayed:

- Select the required contract using the **Select/Add** button.
- The system will navigate the user to the **Collection Adjustment Details** page for the selected contract.

[![1.png](http://wiki.lalco.la/uploads/images/gallery/2026-02/scaled-1680-/1.png)](http://wiki.lalco.la/uploads/images/gallery/2026-02/1.png)

##### **Contract Summary Section**

At the top of the details page, four summary boxes are displayed to provide a quick financial overview of the contract:

1. **Total Outstanding Amount** – Total amount currently outstanding
2. **Penalty Outstanding Amount** – Outstanding penalty amount
3. **Interest Outstanding Amount** – Outstanding interest amount
4. **Principal Outstanding Amount** – Outstanding principal amount

These values help users understand the current financial status before performing any actions.

[![2.png](http://wiki.lalco.la/uploads/images/gallery/2026-02/scaled-1680-/2.png)](http://wiki.lalco.la/uploads/images/gallery/2026-02/2.png)

##### **Tabs in Collection Adjustment**

**1. Collection Record Tab**

- Displays all **approved collection records** in a table format.
- Each record shows details of collections already made against the contract.
- Newly created collections will also appear here once approved.

**2. Payment Schedule Tab**

- Displays the **payment schedule** for the contract.
- Shows accrual, principal, and interest details for each installment.
- Both **paid** and **pending** payments are clearly visible in the table.
- Any newly created accruals or rescheduled payments will be reflected here.

[![3.png](http://wiki.lalco.la/uploads/images/gallery/2026-02/scaled-1680-/3.png)](http://wiki.lalco.la/uploads/images/gallery/2026-02/3.png)

**3. Void List Tab**

- Displays a list of **voided payments**, if any exist.
- Helps track reversed or cancelled collection records for auditing and reference purposes.

#### **Available Actions (Buttons)**

##### 1. Create Accrual

- Clicking **Create Accrual** opens a popup window.

[![4.png](http://wiki.lalco.la/uploads/images/gallery/2026-02/scaled-1680-/4.png)](http://wiki.lalco.la/uploads/images/gallery/2026-02/4.png)

- The user can enter accrual payment details.
- Once the accrual is created:
    
    
    - It is automatically added to the **Payment Schedule** table.
    - The schedule is updated to reflect the new accrual amount.

##### 2. Reschedule Collection

- Clicking **Reschedule Collection** recalculates the payment schedule.
- This action adjusts installment details based on updated outstanding amounts.
- The revised schedule is displayed in the **Payment Schedule** tab.

##### 3. Create Collection

- Used to record a new collection against the contract.
- The user can select different **collection types**, such as:
    
    
    - Cash
    - Bank
    - Refinance of Collection
- After saving:
    
    
    - The collection is recorded as an **approved collection**.
    - The new entry appears in the **Collection Record** tab.
    - Outstanding amounts are updated accordingly.

[![5.png](http://wiki.lalco.la/uploads/images/gallery/2026-02/scaled-1680-/5.png)](http://wiki.lalco.la/uploads/images/gallery/2026-02/5.png)