The Calxa Loan Wizard allows you to quickly and easily incorporate loans into your budgets. The wizard will do all of the complex calculations for you and will automatically update your budgets with principal and interest payments for the life of the loan.
Tip 💡to generate budgets as the lender, rather than the borrower, use negative figures and Calxa will do the rest.
Browse to Budgets & Cashflow -> Budget Tools -> Loan Wizard.
Select your organisation from the Selected Organisation drop down and click GET STARTED.
Set the destination budget or scenario as required and Business Unit properties.
Set the loan and interest accounts.
Tip 💡Use Sub-Accounts to track multiple loans on separate lines in your Budget.
Choose Add to existing or Replace existing budgets then click NEXT STEP.
Set the Loan properties and click REFRESH PREVIEW.
The interest or repayment option allows you to calculate the budgets given either the annual interest rate or the monthly payment amount.
Review the displayed loan schedule, repeat step 6 if changes are required then click NEXT STEP.
To export or print a report of the loan schedule click Print.
Review the summary properties and click SAVE BUDGET.
Note the destination years provides details about which destination years already contain budget data that will be updated or replaced.
