The account setup area of a loan contains the inputs and functions to let you define what the loan is, including things like length of the loan, payment schedule, interest rate, etc. There are three areas where the loan data can be entered or updated: Setup Terms, Setup Tools, and Processes.
The setup terms area is used to enter data for and setup loans.
Setup Tools are used to change the way loans behave after they have been set up. These tools include Advancements/Credits, Late Fees, Curtailment Dates, Roll Schedule, Past Due Adjustments, Modifications, Suspend Payments, Custom Fields, Live/Archive, Additional Information, Suspend/Resume Interest, Change Due Date, and Funding.
Currently the only process is loan renewal. This process helps payday and title lenders to quickly renew loans.