A short video on this feature can be found here.

The loan repayment calculator is a workpaper designed to calculate the interest rate, interest for the year, current and non-current portions of a client's loan, including hire purchases and chattel mortgages.

To use the loan repayment calculator, download the starter file from the website or open from HowNow Knowledge.  Make sure the date on the Home page is the correct year that you wish to calculate the loan for.

On the Index page, insert H11 Loan Repayment Schedule worksheet.  You will need one worksheet per loan.  Change the name of the loan on the Index page in the Worksheet Title column.

This name will flow through automatically to the Loan description on the Loan Repayment Schedule worksheet.

Complete all of the Loan details in column N, and press the blue Calculate Loan button underneath the details.  There is also an option to have either the nominal or effective interest rate calculated.

This will calculate the interest rate and the total interest rate of the loan as well as populating the Loan summary in column S.

The Calculate Loan button also populates the Year End Journals (as long as the amounts currently in the trial balance is completed by the accountant).

The Summary

and the full Schedule

Once you have completed the loan repayment schedule for each loan, go back to the index page and click the blue  REFRESH the Summary button.  This will populate the current year amounts for each loan and also giving a total for the year.