With the module for loans in budget123 it is quick and easy to create and edit existing or potential loans. Once you have created a loan, you can enable and disable it and immediately see the effects on Profit & Loss, liquidity and Assets & Liabilities.

list of loans

How to create a loan

Start by naming the loan and filling in the fields for Type of settlement, Number of initial years with interest-only loan, Time of raising the loan, Maturity, Number of annual terminal periods, etc.

Using the link below ”Yearly rate of contribution” you can add new interest rates and contributions at any time during the loan.

Edit loan

Next, you select which of your financial accounts should carry the debt, exchange rates, contributions, possible losses, and the initial expenses.

The options in the Liabilities account depend on the settings in the Chart of Accounts. You must select an account in all five boxes on the right. It is impossible to save your loan settings without filling in everything.

When the loan has been created, you can enable and disable the loan in Loans. Here, you can also edit and delete the loan and see the amortization that results from the settings.

Please note!

If you cannot enable the loan it is because you have not filled in all the requirements.

How to copy the loan to new models

You can copy the loan for new models and budgets, if you "Copy settings from:" the model in which the loan is created.

The effects of the loan

You can see the effects of an active Loan in the account specification for the selected accounts for interest, contributions, capital loss and initial expenses, in the line named "Debt" in the Cash budget, and of course in the Liabilities account for the principal. As soon as you disable the loan, all effects and any additional lines will disappear.

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