Loan management in DoliPlus

DoliPlus’s loan management lets you record, track and account for all your business loans in one place. Whenever a company finances a vehicle, equipment or property, it needs to monitor the outstanding capital, interest and insurance.

DoliPlus centralises loan management within your business software, alongside your cash flow and accounting. This gives you a clear view of your debt. Plus, you can anticipate each repayment without re-entering data in a separate spreadsheet.

Why track loans in your business software?

A bank loan commits your business for several years. You therefore need reliable, up-to-date visibility. With loan management integrated into your ERP, you always know where you stand.

• capital already repaid and outstanding capital;
• amount of the next instalment;
• interest and insurance portions of each repayment.

In short, you manage your cash flow with real figures. These figures also feed directly into your accounting, eliminating duplicate data entry.

Recording a loan: capital, rate and term

First, create a loan record via the Banking menu. Then enter the loan details:

• the label, e.g. “Vehicle loan” or “Property credit”;
• borrowed capital and interest rate;
• term length in number of instalments;
• insurance amount and start/end dates.

Finally, link three accounting accounts: capital, interest and insurance. DoliPlus provides default accounts, which you can adapt to your chart of accounts.

Repayment schedule and instalment calculator

Based on the principal, interest rate and term, DoliPlus generates the repayment schedule. You can view each instalment, showing the principal and interest portions.

An integrated calculator also estimates the monthly payment before the loan is even signed. This lets you compare different financing scenarios in seconds. For reference, this detailed schedule is also called an amortisation table.

Recording repayments and outstanding principal

Each month, you record the instalment payment. DoliPlus then automatically allocates the payment between principal, interest and insurance.

Result: the record always shows the amount already paid and the remaining balance. Plus, you can easily reconcile these repayments with your bank statements.

Automatic accounting for your loans

Since each repayment is already split, accounting becomes automatic. The principal, interest and insurance are posted to the correct chart of accounts. As a result, your accountant gets clean entries with no manual reworking. In short, loan management always stays consistent with your accounts.

Further reading

• Pre-accounting and financial tools in DoliPlus
• Automated bank statement imports
• Analytical accounting