A loan is money the company lends to someone, or borrows from someone, and that is paid back over time. Loans in My panel shows the loans the company has given you. Loans in the Finances group is where loans are recorded and closed. This guide covers both.
See your loans
Choose Loans in the My panel group of the side menu. It appears only if you can see finances.
The page, titled Loans, lists the loans the company has given you that are not finished yet. Loans you gave to the company, and loans already finished, do not appear here. With none, it says No loans found.
Each row shows:
- Name. Hover over it to read the loan's description.
- Total given: what you have received from the loan so far.
- Total received: what you have paid back.
- Outstanding balance: what you still have to pay back.
- Agreed At: when the loan was agreed.
Click the eye at the end of a row to open the loan. Its page shows the Name, Description, the date it was Agreed in, the Total Amount Due, the Total Paid and its Status, Pending or Payed. Below, Amount received lists each amount the company sends you and Payments lists each repayment, both with their Programmed Date, Total, Payment Date and Status.
Record a loan
Loans in the Finances group appears only if your role gives you access to loans. Its list opens filtered to Pending loans, the most recently agreed first. To see the finished ones, change Status in the filters to Paid. Use We loan to tell apart the loans the company gave from the ones it received.
- Click Create Loan.
- Type its Name and choose its Contact: a person or a provider.
- Tick We loan when the company is the one lending the money. Leave it unticked when the company is borrowing it.
- Add a Description if it helps, and check the Agreed At date.
- Under Incomes and Expenses, plan the movements of the loan: each row has a Date, a Name and a Total. Click + to add a row and x to remove one. Expenses are the amounts the company pays out, Incomes the amounts it receives back. Rows left without an amount are ignored.
- Click Add Loan.
Each planned row becomes a scheduled income or expense linked to the loan. They are not marked as paid: that happens when the money actually moves, as explained in Send transfers.
Loans recorded automatically
You do not always create a loan by hand. When a transfer to a person sent more money than it says, the Payed more? window in Transfers records the difference as a loan the person owes the company. That loan is named after the transfer, already has the extra amount as paid out, and has an income scheduled on the transfer's date for the person to pay it back. It appears in that person's Loans like any other loan. See Send transfers.
When the loan's contact is a person, its scheduled incomes, the amounts that person pays back, show up in the Payment tool for the period they fall in, as Loans under Debt payments. They subtract from what that person is paid.
Follow and close a loan
Open a loan from the Loans list. Next to its details, Received, Paid and Missing show how much has actually moved and what is left, and Total Incomes, Total Expenses and Total Difference show the totals planned, paid or not. The Incomes and Expenses lists below show each movement, and let you add a new one already linked to the loan and its contact.
When the loan is settled, click Mark as Finished. The loan gets its Paid At date, leaves the pending list, and you are taken to the loan's page in Loans. Only pending loans offer this action.