Creating a new loan

• Open the application and log in.
• After logging in you will see the following default window.

• Click on “Loans” on the left menu tree. This will open the following tab, containing a list with all currently existent loans in the according database.

• To create a new loan, click on the “Add loan” button at the top of the window. This will, accordingly, lead you to the following tab. You are required to fill in all obligatory fields before creating the loan. You can then save the loan by clicking on the “Save” button.

The fields you need to fill in are as follows.

• Name: Name of the loan
• Party: The party to/from which the loan is issued
• Loan type: Lending/Borrowing
• External reference
• Agreement date: Date on which the loan is to be opened.
• Maturity date: Date on which the loan period ends.
• Date of direct debit mandate
• Loan status: Open/Susp/Close/Await
• Last calculated: Date on which the loan was last calculated
• Loan pool (Optional): The loan pool for the newly created loan
• Currency
• Interest type: Fixed/Other (* you can add various interest types)
• Day-count convention
•  Day-count end of month: Yes/No
• Compound: None/Annual/Semi-annual/Quarterly/Monthly
• Create compound transactions: Yes/No
• First compound: Date of first compound
• Principal
• Outstanding principal (Optional): This amount will automatically be set to the principal amount. It can, however, be modified if the two differ (e.g. If the new loan has been issued before recording it to LMS and has been partially repaid).
• Nominal interest
• Outstanding interest (Optional)
• Facility
• Closed: Yes/No
• Repayment type: Linear/Annuity
• Repayment periods: Number of repayment periods
• Grace period (Optional): Only applicable if there is a set grace period.
• First period end date
• Repayment: Amortization/Transactions
• Balloon payment (Optional): Amount of balloon payment if any.
• Period interval: Annual/Semi-annual/Quarterly/Monthly
• Interest income/expense: Account to be used in Evolution
• Accrued interest: Account to be used in Evolution
  • Account type (AI): GLAccount/APAccount/APAccount
    
• Principal account: Account to be used in Evolution
  • Account type (PA): GLAccount/APAccount/APAccountManaging existing loans

Managing existing loans

• You can edit and/or delete existing loans by selecting the desired loan (by checking the box in front of it) and clicking on the “Edit loan” and/or “Delete” buttons (see image below).

• Similarly, you can do mass interest calculations by selecting multiple loans and clicking on “Mass interest calculation” under “Mass processing”.