On this tab, you can provide the details on the payments due in this financial period on loans received by the entity from the specified lender.
The Loan Adjustment (create) form. The Loans Received tab
To populate the list with payments to the lender due in the current period (defined by the document date), click the Fill by Schedule button.
Click the Pick button to select and add the loan remaining principal amount.
The Contract column shows the contract to which the loan agreement is linked.
The Loan Agreement column shows the loan document.
The Payment Type column indicates the payment type, which is one of the following options:
- Principal: The payment amount decreases the loan principal amount.
- Interest: The amount pays off the interest amount due in this period.
The Amount column shows the amount of payment in the currency indicated to the right in the column. If the loan payments are in this currency, adjust the invoice amounts to lesser values in this column so that the sum would be equal to the sum of loan payments.
The Rate and Factor columns show the exchange rate of the specified currency with respect to the national currency and the factor used for conversion.
The Amount (Acct. Cur.) column shows the payment amount in the accounting currency.
Make sure the GL Accounts column shows the GL account used for the loan and presented as a link. Click the link to open the GL Accounts dialog box. The GL account depends on the payment type. Select another account if needed.
Click OK to save the replaced account and close the dialog box.
Use the Transaction Contents column to provide a brief description for the generated journal entries.
The tab toolbar buttons
Click the Add button to add a line for a payment.
Use the Pick button to add the remaining principal amount.
Click the Fill by Schedule button to add loan payments that are according to the schedule must be made within the document period.
The tab totals
The Total Amount (Acct. Cur.) field is populated with the total amount in the accounting currency due in this period on the loans received.