Creating a new Loan Account
- Navigate to the Portfolio Director
- Select your portfolio
- Click the Cash & Term Deposits tab
- Under Liabilities Section
- Click on the New Loan button
- Type the Name of the loan
- Type the initial Date of the loan
- Type the Initial Withdrawal (Loan Amount)
- Click Save
The new loan will now appear under the Accounts section.
Recording Loan Repayments
- Under the Cash & Term Deposits tab
- Click on the name of your Loan account
- Under the Deposits and Withdrawals section
- Click on New Deposit button
- Type the Deposit Date
- Type the repayment Amount
- Select the cash account you would like to use for sourcing funds by using the source funds cash account drop down menu.
- Click Save
Recording Interest and Fees Accrued on a Loan Account
- Under the Cash & Term Deposits tab
- Click on the name of your Loan account
- At the bottom of the page, under the Interest and Fees section
- Click on New Interest/Fee button
- Type the Date
- From the Deposit funds into Cash Account drop down menu, change the source to the Loan Account the interest or fee applies to.
- Type in the Interest or fees as a taxable expense.
- All expenses need to be entered as a Negative number.
- Click Save
