Tracking Lender Approval for Deals in Deal Manager
Efficiently tracking lender approval for deals is a critical task for many Deal Manager users. This can be achieved by creating a User Defined Field (UDF), specifically at the deal level. Below are the steps to set up and use this feature, along with a note on system functionalities and limitations.
Creating a Deal-Level UDF for Lender Approval
Follow the steps below to create a Deal-level User Defined Field (UDF) to record lender approval:
Navigate to System Settings (or "Company Settings" > "General Settings").
Select the User Defined Fields section.
Create a new UDF, for instance, named "Lender Approval."
Set the field type to a Picklist with values such as "Yes" or "No."
Click 'Show on Proposal' for easy data entry.
Save the field to apply it to all existing and future deals.
This process allows you to record whether each deal requires lender approval.
Practical Tips for Managing Lender Approval
Use consistent naming conventions for UDFs to avoid confusion (e.g., "Lender Approval").
Regularly review and update the default status of "Yes" or "No" to ensure that deal-level data remains accurate and synchronized with your workflow.
By following these guidelines, you can ensure your team has clear visibility into which deals require lender approval and maintain accurate tracking within Deal Manager.