How to Use the Loans Page
What you need to know:
AgExpert Accounting makes it easy to keep your loan information organized in one convenient place. The Loans page provides a quick, accurate view of key details, including account number, loan name, lender, interest rate, next payment and current balance, helping you stay on top of your debt.
What you need to do:
Have your loan details available: loan type, maturity date, rate type, rate, payment frequency, and payment amount.
To add a new loan, or remove a loan from an existing group, you will need to find an unused number from the Liability section of the Chart of accounts.
How to (Step by Step):
Click Banking.
Select Loans.
To add a new loan:
Select New loan.
Use the drop-down menu to add the loan to an existing Group or click Add new group to create a new group to add the loan to.
Enter Name for the loan.
Use the drop-down menu to select Loan type: Lease, Term or Operating/Line of Credit.
Enter Maturity date of loan.
Use the button to select the Rate type: Fixed or Variable.
Enter Payment frequency using the drop-down menu: Weekly, Biweekly, Monthly, Quarterly, Semi-annual, Annual.
Enter Payment amount.
Enter a Default description for the account which will be added to a transaction every time you select this account and will show on reports.
If you wish to add Attachments to the transaction, click Add and browse your computer to select a file, and click Open.
Click Save.
To edit a loan:
Click the loan you wish to edit.
Tip: You can use the Search filter to find the loan by name, or use the Status filter to view by Closed, Open or Refinanced loan types.
Use the drop-down menu to add the loan to an existing Group or click Add new group to create a new group to add the loan to.
Select the Status of the loan using the drop-down menu: Closed, Open or Refinanced.
Change the Account number of the loan.
Note: Changing the loan number here will also change it on the chart of accounts.
Enter a new Name.
Select the Loan type: Lease, Term or Operating/Line of Credit.
Enter Maturity Date of loan.
Enter loan Rate.
Enter Payment frequency using the drop-down menu: Weekly, Biweekly, Monthly, Quarterly, Semi-annual, Annual.
Enter Payment amount.
Enter a Default description for the account which will be added to a transaction every time you select this account and will show on reports.
If you wish to add Attachments to the transaction, click Add and browse your computer to select a file, and click Open.
Click Save.
Note: The Loans page is also accessible from the Loans widget on your dashboard, by selecting Loans.
References and Additional Resources
Still have questions? Contact support
Contact us at 1-800-667-7893 or email support@fccagexpert.ca if you require additional support. You can find other help options under the Question Mark Icon in the top right of AgExpert Accounting at any time.