This article is applicable for loans from banks or financial institutions where a Bank Account or other 'transaction account' type loan is created. In this type of loan, the interest is determined based on the average daily balance of the loan for the past month or other period. It does not apply to 'Hire Purchase' type arrangements where you simply pay a set amount per month, and the total interest payable is determined ahead of time based on a repayment schedule. For the later type refer to this article: Enter a new financed vehicle or car loan into Attaché.
Record a loan amount
To record a loan amount that has been received to your Accounts company bank account, follow the steps below:
If you do not have a loan account code set up, you will need to set this up. See: Create a new General Ledger Account code.
Go to General Ledger, Transactions, Transactions, Receipts.
In Batch Details task area:
Choose the correct period in Post to Period.
The next available batch number will generate automatically in the Batch No field.
In Description, enter a meaningful batch description.
In the Account Codes task area:
Enter the required Bank Account.
Enter the required Tax Received account.
Only if you use the Classic Bank Reconciliation:
In the Bank Reconciliation section, enter the Statement page number. This must match the page being reconciled.
Click Accept (F9). This then takes you to the batch transaction entry screen.
In the Transaction Header task area, enter:
The Receipt Amount.
The Received from / Details.
Select the Tax Type and the Tax Amount of tax if applicable and click enter to move to the allocation details table.
In the allocation details table enter:
The loan account code in Account code field.
The loan amount (amount lent from the financial institution) in the Amount field.
The details in the Details field.
The Cost Centre (if applicable) and click Enter.
Click Accept (F9) to save the batch details.
Click Finish (Esc) then Close (Esc) to complete the receipts batch posting.