Loan Wizard
Mick Devine avatar
Written by Mick Devine
Updated over a week ago

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.

The Loan Wizard can also generate the budget if you are the lender, rather than the borrower, just enter the amounts as negative figures and Calxa will do the rest.

Interest accounts can be included in either the Expense or Income categories as required.

The Loan account for the principal amount borrowed or lent can be either Asset or Liability. In some cases it may be preferable to record the principle of the loan as an Asset account to enable a connection to bank feeds, Calxa will identify the type of account and fill the budget amounts accordingly.

  1. Browse to Budgets & Cashflow -> Budget Tools -> Loan Wizard.

  2. Select your organisation from the Selected Organisation drop down and click GET STARTED.

    Loan Wizard Menu
  3. Set the destination budget and Business Unit properties.

  4. Set the loan and interest accounts.

  5. Choose Add to existing or Replace existing budgets then click NEXT STEP.

    Destination budget and loan account properties
  6. 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.

    Loan Properties
  7. 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.

    Loan schedule
  8. 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.

    Budget summary
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