Transactions > Transaction examples - Loans > Increasing a loan balance
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Increasing a loan balance
Loan balances can be increased during the year, particularly with operating loans or lines of credit. To record an increase (addition) to a loan balance:
- Select Transaction Entry from the Transactions menu. The Transaction Entry dialogue box appears.
- Select Deposit from the Transaction type drop-down menu.
- Enter the transaction Date or click the arrow to select it from the calendar
- Select a Bank Account.
- Enter a Reference to identify the transaction throughout AgExpert Analyst.
- Enter a Description or click the arrow to choose a previously entered description.
- Enter the Total amount of the loan increase.
- Enter the transaction details. You can enter as many detail lines as you need for the transaction. Click the + to add a detail line or click X to delete it.
a) Select Loan Addition (L+) from the Type drop-down menu.
b) Enter an Account number or select one from the drop-down menu.
c) Enter a description of the detail line in the Memo column, for example, Increase operating loan.
d) Enter the total Amount of the loan increase.
The document should now be balanced. Click Recap to view the balanced debit and credit entries. ClickRecord to record the document.
Last updated on August 31, 2016 by FCC AgExpert