How to Record Loans
This article explains how to record loans so that you can accurately record lending arrangements between your client's entities.
Before You Start
Make sure you have an active Group with at least two entities — one to act as the lender and one as the borrower.
Steps
- In the left-hand navigation, go to Loans.
- Click Add Loan.
- Complete the form. The following fields are required (indicated by a red asterisk):
- Lender — the entity providing the loan
- Borrower — the entity receiving the loan
- Amount — the value of the loan
- Add any optional fields to record additional information, such as Interest Rate.
- Click Create Loan.
Adding a Security or Guarantor
Once a loan has been created, you can add further details to it directly from the Loans page.
- To add a security, click Security on the recorded loan.
- To add a guarantor, click Guarantor on the recorded loan.
Editing a Loan
To edit a loan, click the pen icon on the recorded loan.
Attaching Documents
You can attach the loan agreement, security documents, and guarantee deeds directly to the loan, security, and guarantor records. Open the Edit dialog for each and use its documents section. A paperclip then appears on the loan card and on the diagram link. See How to Attach Documents to a Relationship.
What You'll See
A "Loan created successfully" message appears. The loan is also recorded on the Loans page, where you can view, edit, and manage all loans for the active Group.