Introduction

Financing is an important device used by organisations to run "the business". Borrowed funds are used for a range of purposes, form leasing of motor vehicles, plant and other equipment to the use of overdrafts, loans, commercial bills and other instruments. Effective management of these borrowings is therefore mandatory.

What does it do?

Loan & Lease Types include operating leases and the system cater for fixed interest and principal paid concurrently, fixed interest only.

• Caters for flexible interest and principal paid concurrently
• Caters for flexible interest only with principal paid on final payment
• Caters for residual payment at the termination of the loan or lease

Information Tracked includes load purpose, fund reference, lender (original and factored), balloon payments, term, payment frequency, notional and actual interest rates, status and a number key dates and milestones

Loan & Lease Payments are normally made via the Accounts Payable system

Different destinations can be nominated for the principal and the interest portion of the repayments

Posted payments automatically generate AP debit notes and AP payment batches together with GL distribution

Program automatically includes all payments due within the next n days where n is configurable

The Loan Calculator can be called from every program within the Loans and Leases module. It allows the user to perform various computations relevant to loans without affecting the database

Let the user view or print the generated repayment schedule

Reports

• Loans and Leases
• Repayment Calculator
• Loan/Lease Liability
• Loan Type Maintenance
• Lender/Lessor Type
• Fund Maintenance
• Purpose Maintenance
• Audit Schedule

How it is used?

Loans and Leases is integrated into the Century General Ledger and Cash Book.