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What Happens When a Borrower Submits a Payment, and What Do the Payment Status Indicators Mean?

Understand what happens behind the scenes when a payment is submitted, and what each status indicator means at both the portfolio and individual-payment level.

What Happens When a Borrower Submits a Payment

When a borrower submits a payment through the Payment Tab in ZimpleMoney. ZimpleMoney then sends electronic instructions to the borrower's bank to initiate an ACH transfer. ZimpleMoney never holds or touches the funds directly.

Once submitted, a confirmation page appears immediately with a unique Payment Confirmation Number (Transaction Number). Payers can print this confirmation page from the Payment Tab.

If the payment was submitted via Auto-Pay or a Scheduled Payment rather than manually, the Confirmation Number instead appears in the email notification sent when the payment triggers.

Newly submitted payments don't post as final immediately. For the first 5-6 business days after submission, the payment shows a Pending status before it's confirmed and finalized on the ledger.

Understanding the Status Column in My Portfolio

Each loan listed under My Portfolio displays a Status indicator showing where that loan stands relative to its payment due date:

  • Current: The loan is fully paid up, with no outstanding amount currently owed.
  • Due: The active billing cycle has an amount owed, but it isn't yet late.
  • Submitted: A payment has been submitted for this loan and is still processing (within the first 5 business days after submission). The loan's Status will show Submitted rather than Current, Due, or Late while the payment is pending, even though the specific payment hasn't finished processing yet.
  • Late > 15: More than 15 days have passed since the due date without a completed payment.
  • Late > 30: More than 30 days have passed since the due date without a completed payment.
  • Late > 60: More than 60 days have passed since the due date without a completed payment.

The Late thresholds count from the original due date, regardless of any grace period configured on the loan. This means a loan can show as Late even during a grace period where late fees haven't yet been assessed. The Status column reflects days since due date, not the grace period or late fee timeline.

Checking the Status of an Individual Payment (Ledger Tab)

The portfolio-level Status tells you the overall standing of a loan, but it doesn't show you the state of a specific payment. To check an individual payment's status:

  1. From My Portfolio, click on the loan to open it. By default, the loan opens to the Detail Tab.
  2. Click the Ledger Tab to see a full list of payment rows.
  3. Look at the Event column for each row, which shows the type of payment or charge — for example, Scheduled Payment, Monthly Property Tax, or Monthly Collection Fees.

Understanding the "- Pending" Suffix

If a borrower has submitted a payment within the past 5 business days, its Event description will include a " - Pending" suffix (for example, "Scheduled Payment - Pending").

This means the payment has been submitted by the borrower but is still being processed by the ACH system and hasn't been fully confirmed yet. Once processing completes, the "- Pending" suffix drops off the Event name, and the payment is reflected as finalized on the ledger.

During this same window, the loan's overall Status on My Portfolio will show as Submitted.