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Loan

Loan

Sub-category: Select a budget sub-category from the list. If the sub-category, you wish to use does not exist, click New to create it.

Creating a Budget Sub-Category

Budget Category: Link the new budget sub-category to a budget category. If the category does not exist, access the settings menu. See the New Budget Category topic for details.

Picture: Click to select a new icon for the loan budget sub-category.

Name:  Enter the name of the new loan budget sub-category.

Description: Enter a description, if needed, for this new loan budget sub-category. The description is used in the operation menu and in the analysis.

Click  to save the new loan budget sub-category. By default, the new loan will be chosen for this operation.

Click to go back to the previous screen without creating a new loan budget sub-category.

 

Back to the Account Addition Screen

Icon: The  icon is set by Budget Express by default. Click it to change it.

Description: Enter a different description if needed for the new loan budget sub-category.

Date: Displays the start date for using the loan in Budget Express. It serves to establish the book balance at a given time.

Balance: Enter the balance at the date specified previously.

Rate: Enter the interest rate accrued on the loan balance if needed. At this time, the information is only informative, but will have a new purpose in later versions.

Limit: Enter the loan limit for the account if needed. At this time, the information is only informative, but will have a new purpose in later versions.

Balance Adjustment

A balance adjustment creates an operation in the calendar and in analysis. The previous balance at the date of the adjustment is replaced with the new balance. It is neither subtracted nor added. Click + to enter a new adjustment.

NB: The adjustment operation can be done directly from the calendar screen.

Adjustments are displayed under that tab. It is possible to display an adjustment details by clicking its date . It is then possible to modify or delete an adjustment.

Refund

Refunds are payments made to reimburse a loan from an account or credit.

NB: The refund operation can be done directly from the calendar screen.

Refund To: By default, the loan you entered is shown.

From: Select from the list the account or other credit which will pay the loan.

Amount: Enter the amount of the payment.

Choose the frequency:

  • Months
  • Week s
  • Days
  • Years
  • Bimonthly
  • Sometimes
  • Only Once
  • Every

 

For the Months, Weeks, Days, Years frequencies, enter the number of occurrences for the refund. For example, 2 indicates the refund will be done every two months/week/days/year after the start date.

Warning,

  1. Every monthly operation dated on the 31st is considered an “end of the month” operation.
  2. An operation that occurs on the 29 and 30 will work as any other day except in February.
    1. An operation on the 29th, in February will be reported on March 1st. You can create an exception if you wish to revise the operation.
    2. An operation on the 29th will occur on the 29th in a leap year.
    3. An operation on the 30th, in February will be reported on March 2nd  in a non-leap year. You can create an exception if you wish to revise the operation.
    4. An operation on the 30th, in February will be reported on March 1st  in a leap year. You can create an exception if you wish to revise the operation.

Frequence : Bimonthly:

Select both dates in the month when a refund occurs. In the example above, the refunds would happen on the 15th and on the last day of the month.

Frequence : Sometimes:

Select the dates from the calendar when refunds will occur. By default, the amount is specified in the Amount field in the operation header, but it can be changed for every date.

Frequence : Only Once (default):

Select or enter the single date for the refund.

Start Date: For the Months, Weeks, Days, Years, and Bimonthly frequencies, enter the starting date for the refund.

End Date: For the Months, Weeks, Days, Years, and Bimonthly frequencies, enter the date after which the refund no longer occurs if needed. If the date is unknown or nonexistent, you can leave it blank. See the Forever field below.

Forever:  When no end date is specified for the operation, you can set Forever to Yes. Should no end date be defined but the refund is set to end at some point, specify a number of events thus instructing the program to end the refund operation once the number of occurrences is met.