General Ledger Loans

This module allows the user to create and track loans from lenders (banks, lending institutions, vendors, etc.) or loans to borrowers (customers, etc.). Loan payment schedules can be created and accompanying Account Payable or Accounts Receivable Invoices can be created for monthly payments. Select Loans from the General Ledger menu and the following screen comes into view.

The two tabs separate the types of loans tracked by this module: Loans from Lenders and Loans to Customers.

Loans from Lenders (tab)

Select this tab to view all Loans from Lenders. This displays the Loan Description, Lender Number and Name, Loan Number, Loan Amount, Interest Rate, and Loan Start Date.

Sorting

Click on the header of any of the columns to sort the list.

Create AP Invoices (button)

See Creating Loan Invoices.

Add (button)

See Adding or Changing a Loan.

Change (button)

See Adding or Changing a Loan.

Delete (button)

Press the Delete button to delete the highlighted record. The following screen will come into view.

Loan Calculator (button)

Press this button to bring up a stand-alone Loan Calculator. The functions of the loan calculator are defined below.

Close (button)

Press the Close button to return to the main screen.

Help (button)

See How to Use Help.

Adding or Changing a Loan from a Lender

Clicking Add to add a Loan or clicking Change to modify an existing Loan will bring the following screen into view.

Loan Information (tab)

This tab allows the user to enter information about the loan.

Loan Description

Enter a brief description to help identify this loan.

Loan Calculator

The Loan Calculator allows the user to enter loan values that will be used to calculate the Loan Amount or the Monthly Payment.

Loan Amount

Enter the Loan Amount in this field or use the Calc button to calculate the Loan Amount from the supplied values.

Interest Rate

Enter the Interest Rate percentage in this field.

Term In Months

Enter the duration of the loan in months.

Monthly Payment

Enter the Monthly Payment amount or use the Calc button to calculate the Monthly Payment amount from the supplied values.

Loan Origination Date

Enter the date that the loan was originated.

First Payment Due Date

Enter the date when the first loan payment is due. This will be used when calculating a repayment schedule.

Loan Account

Enter the Account number from which Loan Payments will be made. Press the lookup button to select the desired account from the General Ledger Accounts screen.

Interest Expense

Enter the Account number from which Interest Expenses will be paid. Press the lookup button to select the desired account from the General Ledger Accounts screen.

Lender

Enter the number of the Vendor who is supplying this loan. Press the lookup button to select the Lender from the Accounts Payable Vendor screen.

Loan Number

Enter a Number to identify this Loan.

AP Batch

Enter the number of an Accounts Payable invoice batch. Loan payments created automatically by this program will be placed in the specified batch.

Active (check box)

Check this box if the loan is active. If this box is unchecked, the system will not automatically create Accounts Payable Invoices for loan payments.

Payment Schedule (tab)

This tab allows the user to create and update Payment Schedules for the loan. Press the Payment Schedule tab and the following screen will come into view.

Actual Payments (radio button)

Select this option to view Actual Payments made towards the loan

Original Payment Schedule (radio button)

Select this option to view the Original Payment amounts .

#

This column displays the payment number.

Date

This column displays the payment date.

Principal

This column displays the amount of principal paid with the payment.

Interest

This column displays the amount of interest paid with the payment.

Payment

This column displays the total payment amount.

Balance

This column displays the remaining Loan Balance.

Actual Totals

The total Principal, Interest, and Payments for Actual Payments will be displayed here.

Original Totals

The total Principal, Interest, and Payments for Original Payments will be displayed here.

Create Payment Schedule (button)

Press the Create Payment Schedule button to create payment entries for each month of the loan. The Monthly Payment amount from the Loan Information tab will be used for each entry and the Principal and Interest amounts will be calculated.

Print Payment Schedule (button)

Press the Print Payment Schedule button to print the Payment Schedule

Change (button)

Select a Payment and press the Change button. The following message will come into view.

Highlighted (button)

Press the Highlighted button to make changes only to the selected payment.

All (button)

Press the All button to apply changes to all payments.

Cancel (button)

Press the Cancel button to return to the Payment Schedule screen without making any changes.

Paid (check box)

Check this box to mark the payment(s) as paid.

Additional Principal

Enter the amount of Additional Principal to be added to the payment(s).

Total Payment

Enter the amount of Total Payment and the Additional Principal amount will automatically be adjusted to match the new total.

Attachments (tab)

Press the Attachments tabs and the following screen comes into view. This tab allows the user to attach outside files to the invoice. For example: a scanned copy of a letter received regarding the Invoice a can be attached.

Description

The Caption that is specified when the Attachment is added will be displayed here.

Type

The file type will be displayed in this column.

Preview

Depending on the Attachment type, a preview image may be displayed to the right of the Attachment table.

Add or Change (button)

Press the Add or Change button and the following screen will come into view.

Caption

Enter a descriptive Caption that will be used to identify the Attachment.

Retrieve an Image (button)

Press the Retrieve an Image button to browse for the desired file. Many file types are supported by this function including Document, Image, Spreadsheet, and PDF file formats.

Set Defaults (button)

Press the Set Defaults button and the following screen will come into view. This screen allows the user to define default settings when attaching files to an item in JobView.

Default Attachment Type

Select the file type to display by default when selecting an attachment. Select All Files to remove any file type filter.

Option 2

Select the description to be displayed for selected attachments.

Delete (button)

Press the Delete button to remove the highlighted attachment from the Invoice. The following screen will come into view.

Press the Yes button to delete the Attachment.

Notes (tab)

The Notes tab allows the user to enter notes for the selected Fixed Asset. For more information, see Adding or Changing Notes. When the Notes tab is selected, the following screen comes into view.

Loans to Customers (tab)

Select this tab to view all Loans to Customers.

Sorting

Click on the header of any of the columns to sort the list.

Create AR Billings (button)

See Creating Loan Invoices.

Add (button)

See Adding or Changing a Loan.

Change (button)

See Adding or Changing a Loan.

Delete (button)

Press the Delete button to delete the highlighted record. The following screen will come into view.

Close (button)

Press the Close button to return to the main screen.

Help (button)

See How to Use Help.

Adding or Changing a Loan to a Customer

Clicking Add to add a Loan or clicking Change to modify an existing Loan will bring the following screen into view. This screen allows the user to enter loan information and create payment schedules.

Loan Information (tab)

This tab allows the user to enter information about the loan.

Loan Description

Enter a brief description to help identify this loan.

Loan Calculator

The Loan Calculator allows the user to enter loan values that will be used to calculate the Loan Amount or the Monthly Payment.

Loan Amount

Enter the Loan Amount in this field or use the Calc button to calculate the Loan Amount from the supplied values.

Interest Rate

Enter the Interest Rate percentage in this field.

Term In Months

Enter the duration of the loan in months.

Monthly Payment

Enter the Monthly Payment amount or use the Calc button to calculate the Monthly Payment amount from the supplied values.

Loan Origination Date

Enter the date that the loan was originated.

First Payment Due Date

Enter the date when the first loan payment is due. This will be used when calculating a repayment schedule.

Loan Account

Enter the Account number from which Loan Payments will be made. Press the lookup button to select the desired account from the General Ledger Accounts screen.

Interest Expense

Enter the Account number from which Interest Expenses will be paid. Press the lookup button to select the desired account from the General Ledger Accounts screen.

Lender

Enter the number of the Vendor who is supplying this loan. Press the lookup button to select the Lender from the Accounts Payable Vendor screen.

Loan Number

Enter a Number to identify this Loan.

Payment Schedule (tab)

This tab allows the user to create and update Payment Schedules for the loan. Press the Payment Schedule tab and the following screen will come into view.

Actual Payments (radio button)

Select this option to view Actual Payments made towards the loan

Original Payment Schedule (radio button)

Select this option to view the Original Payment amounts .

#

This column displays the payment number.

Date

This column displays the payment date.

Principal

This column displays the amount of principal paid with the payment.

Interest

This column displays the amount of interest paid with the payment.

Payment

This column displays the total payment amount.

Balance

This column displays the remaining Loan Balance.

Actual Totals

The total Principal, Interest, and Payments for Actual Payments will be displayed here.

Original Totals

The total Principal, Interest, and Payments for Original Payments will be displayed here.

Create Payment Schedule (button)

Press the Create Payment Schedule button to create payment entries for each month of the loan. The Monthly Payment amount from the Loan Information tab will be used for each entry and the Principal and Interest amounts will be calculated.

Print Payment Schedule (button)

Press the Print Payment Schedule button to print the Payment Schedule

Change (button)

Select a Payment and press the Change button. The following message will come into view.

Highlighted (button)

Press the Highlighted button to make changes only to the selected payment.

All (button)

Press the All button to apply changes to all payments.

Cancel (button)

Press the Cancel button to return to the Payment Schedule screen without making any changes.

Paid (check box)

Check this box to mark the payment(s) as paid.

Additional Principal

Enter the amount of Additional Principal to be added to the payment(s).

Total Payment

Enter the amount of Total Payment and the Additional Principal amount will automatically be adjusted to match the new total.

Creating Loan Invoices

Press the Create AP Invoices or Create AR Billings button and the following screen will come into view. This option is used to add invoices to a repeating batch for posting.

View AP Invoices screen View AR Billings screen

Change Principal Amount (button) AP Invoice screen only

Press the Change Principal Amount button and the following screen will come into view.

Additional Principal

Enter the amount of Additional Principal to be added to the payment(s).

Total Payment

Enter the amount of Total Payment and the Additional Principal amount will automatically be adjusted to match the new total.

Fiscal Period

Select the Fiscal Period to be used for creating the Invoices or press the lookup button and select the desired Fiscal Period from the Fiscal Period screen.

AP/AR Invoice Batch

Enter the Batch Number to which the Invoices/Billings will be added or press the lookup button and select the Batch Number from the list of available batches.

Date

Enter the date which will be used in the Invoices or press the lookup button to choose the date from the Calendar.

Automatically Number Invoices (check box) AR Invoice screen only

Check this box so that invoices created by the program will be auto-numbered using the next available AR Invoice number.

Proceed (button)

Clicking this button will start the process of creating payment invoices for the displayed loans. The following will be displayed:

If the first option is selected, invoices will be created for all loans that have a payment within the selected month. If the second option is selected, the user can specify a payment date. Only loans with a payment date of this day of the month will be processed and have an invoice created.

Once invoices have been created, go to the Invoices menu item from either the Accounts Receivable or Accounts Payable menu to view and process the new invoices.