Investments - Modify Payouts

This guide will help further explain the investment module's Modify Payouts button feature where you're able to reassign a defaulted split of principal that's returned to investors on a loan. 

Notes:
- You can only modify the most recently recorded payment on a loan, not any payments prior.
- If the recorded payment has already been sent to be processed via NACHA (for an investor payout), then you won't be able to modify the payout.
- As of the time this article was written, this feature is inaccessible for those who have the ACH module enabled. Please submit an inquiry to support@brytsoftware.com to check in on this. Thanks! 

Requirement(s):
- You must have more than 1 investor for the feature to work properly, otherwise, there's no payout to modify since it's all going to one payout.

- You must have collected a payment from the borrower (recorded a payment) on the loan. 

Guide

1) Once you've met the requirements above, you'll want to go to the Investments Tab on the left-hand list on a loan.

2) Click the 'Modify Payouts' button.

3) At the Modify Payouts Summary screen, you'll see two fields where you're able to reassign the recently applied payment's Principal that was paid out to investors on the loan. 

In the screenshot above you'll note that I've clicked on the 'Assign All' button to set the full Principal paid amount to 'Bryt Investor'. However, you can also manually reassign portions, just make sure it equals no more or no less than the principal amount that was actually paid. Otherwise, you'll see the message below upon trying to hit the 'Save' button.

Once the amounts match you'll be able to hit 'Save' successfully. In the next step we will show how these changes affect the loan. 

4) Changes to Loan

Register Before and After

Above we see an even split among investors for the borrower's default applied payment. 

Here we see the modified payout, where all the principal went to 'Bryt Investor', where no principal was returned to the investor named 'Bryt'. 

On the Investments tab, you'll also see that the column for Current Value stayed the same for the 'Bryt' investor since no principal was returned to them. The same applies to the Ownership percentage column since they are no longer equals on the loan. 

That's all for this guide and explanation of this feature. If you have any questions please reach out to support@brytsoftware.com, thanks!