Loans

In Finance Management module there is also a feature called Loans. Loans are available only for Premium AGRIVI plans.

Loans can be accessed via the main Finance menu, from the navigation bar:

If a purchase is paid with a loan, there is an option to choose that loan as a payment method when registering a purchase of a certain item.

In order to choose a loan type to link a purchase on it, first, you have to register a loan under Loans, in the main Finance menu.

Check out how to register a loan in a short tutorial, here:

When registering a new loan - input name, date, principal amount, duration in months and nominal and effective interest. Then input the payment plan for each month, which contains a due date, payment date and a principal and interest amount.

After registering a loan, capital expenses and expenses can be successfully linked to that loan. Moreover, multiple purchases can also be linked to one loan. When linking the loan to an item or asset, the payment option needs to be changed to "Loan". If there are multiple Loans registered in the system, a drop-down menu will allow selection of the Loan used to pay that expense or capital expense.

Every time you link an item to a loan payment plan, it is automatically registered as an expense, so it also becomes visible in expenses, as well as in financial reports.