Voiding a Loan
NLS 5.11 and later
Active loans may be voided prior to any payments having been made on the loan. When a loan is voided, any checks associated with the loan are voided and all transactions/vouchers are reversed. The loan status is set to canceled and will not be reported to a credit bureau.
To void a loan, query the loan and click Void Loan. Once the loan is voided, the loan icon will indicate that the loan has been canceled.
Privilege for this feature is configured with Loan > Void Loan.