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What is the Loan Wizard doing in the Budget?
What is the Loan Wizard doing in the Budget?
Sandra McCarthy avatar
Written by Sandra McCarthy
Updated over a week ago

The Loan Wizard helps you to calculate the split in each monthly repayment between

  • Interest portion which is an Expense to the Business

  • Capital Portion which is a reduction in the Liabilities of the Business

  • Total Repayment charged to the Bank Account

Please note that the Budget will show the movements in the Balance Sheet accounts, rather than the closing balances.

To see the results of these budgeted amounts, review the P&L with Projected Total, and the Balance Sheet with Projected Total, and you will see the Interest costs for the period, and the reducing balance in the Loan account for the period.

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