Loans and Leases
The Loans and Leases module allows an organisation to manage their (Creditor) Loans / Leases and is integrated to the Accounts Payable module. All types of Loans / Leases are catered for – operating and financial, and the system maintains full records of all payments due and paid. A loan repayment / interest calculator is integrated in the module enabling a “what if” scenario to be calculated. The integration to Accounts Payable enables payments due on a loan / lease to be included in cash forecasting reports and, if necessary, the actual payment can be made through the EFT / Cheque preparation routine. Standard reports are available, plus specialised liability and forecast reports.
The module manages Loans & Leases for a company. The system can handle the calculation of payments for several different types of loans or leases to a creditor. To provide complete functionality, the Loans & Leases module has been designed to be fully integrated to the General Ledger and Accounts Payable modules of our Financial System. The installation requires both above-mentioned modules to be present.
Summary of Features
Loans with interest-only or reducible interest concurrent interest + principal payments.
Operating leases.
Integration with Accounts Payable and General Ledger.
Forecast and Liability reports.
View built-in Operational Dashboard to view and track loan portfolios, look at borrowing trends etc.
Built in Generic Inquires enable endusers to view records and filter searches accordingly.
Built in Scheduling functionality, enables notification of loan disbursement, payment tracking etc.
In-built Report Designer allows user to generate standard reports and document formats with regards to loans and leases or modify existing reports on the fly without any coding.
Audit Log can be switched on to log transactions pertaining to loans and leases and its related modules.
Summary of Key Benefits
Accessible anywhere, anytime using computer or mobile.
Secured and authorized data entry with two factor authentication.
Generate reports with automatic drill down to details and pivot reports using Generic Inquiries.
Operational Dashboard refreshes on the go to display latest information.
Approval Workflow allows rerouting of approval to other approvers should an approver goes on leave.