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Problem: How to reflect the company's loan and interest on it in the software?
Solution: In order to reflect the company's loan and interest on it in the software, please follow the steps below:
Create a Bank Receipt document with the Loan Receipt transaction type. Specify the creditor and the loan amount.
See also: 6.2.1.5. Bank Receipts (Loan Received)
Calculate the interest for the loan.
Create a document "Other expenses" to reflect the accrual of interest.
Debit Financial Expenses- Credit Current Interest Payable.
Also specify the department, the expense item, the creditor, the contract, and the amount of interest for the entire period.
See also: 7.5.4. Other Expenses
Check your actions by generating a report.
To pay for the loan, create a document Bank receipt with the type of Loan Payment transaction.
On the 2nd tab, specify the loan document and the amount you will pay.
To pay interest, create document Bank Payment with the transaction type Other.
Specify the account- Current Interest Payable, the creditor and the contract.
Check your actions by generating a report.
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