Loan Info

In loan account and loan account in F.C. records, Loan Info option located in the right mouse button menu of the related record is used to record the interest rates, loan margins and loan limits applied by the bank for credit against checks and p. notes.

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.
Loan Margin (%): The collateral rate specified by the bank for the company. The bank grants credits against a P. Note or check from the company according to the loan margin rate. This rate depends on the agreement between the bank and the company, and is used in credits against p. notes or checks.
Loan Limit: Indicates the highest amount of loan that the bank will grant to the company.
Certain fields on the Loan Info window are not for data entry. The information displayed on these fields is calculated by the application as a result of transactions, and is transferred into these fields.
Collateral Limit: The total amount of the check and/or P. Note to be issued as collateral, calculated by multiplying the loan amount entered into the Loan Limit field with the percentage specified on the loan margin field. This amount is automatically calculated and transferred into the field by the application.
Issued As Collateral: Displays the total amount of checks and/or p. notes issued to collateral.
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.
Remaining Collateral: The amount calculated by deducting the total amount of collateral checks/P. Notes from the collateral limit.
Remaining Loan: The company does not have to use the whole loan at the same time. The loan can also be used partially. The remaining loan is calculated by subtracting the amount of loan used from the loan limit. As the collateral checks and P. Notes are collected, the bank transfers the collateral kept as loan margin to the current account of the company by deducting the loan interest.
Unsecured Credit: The fields following this heading are used to record interest rate and credit limit of the unsecured credits.
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.