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The following information is recorded on the loan info window:
Monthly Loan Interest: The interest rate of credits against checks and p. notes. "Against Check and Against P. Note" fields are used to record the monthly loan interest rates for credits against checks and p. notes respectively. The rates are entered as percentages.
Loans from banks require a certain allowance, in other words, collateral. Banks receive collateral checks or P. Note against loans they grant.
Credits against checks require collateral checks, while credits against p. note require collateral p. notes. Due to legal arrangements, credits against checks require collateral p. notes of equal amount in addition to the collateral check.
When the company obtains a loan in the amount defined by the bank, this amount is entered into the Loan Limit field. When credits are granted against p. notes, the amount specified in the loan limit can be used wholly or partially. If partial loan is used, the available loan amount is calculated by subtracting the used loan amount from the loan limit.
When loans are granted against p. notes, as p. notes given as collateral to the bank are collected, the collateral kept by the bank in accordance with the Loan Margin rate is transferred into the current account of the company by deducting the Loan Interest.
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Available Loan: Indicates the amount of loan the company requests from the bank depending on the amount of collateral P. Notes or checks.
Since the loan amount is calculated by the application and transferred into this field, this field is not for data entry.
If the loan margin is not applied, the amount of loan that can be used is equal to the amount of collateral checks or P. Notes issued to the bank.
If the loan margin is used, the amount calculated by deducting the result of the loan margin calculation indicates the amount of available loan.
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Letter of Guarantee: The credit limit received in return for letter of guarantee is recorded in this part. The used and remaining credit amounts are transferred to related fields automatically at the end of the transactions.