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Entering Loan entries

Hello all,

How can I setup Acumatica to automatically make a loan entry that has been paid. I came around to run an automation schedule once a month with an import scenario that would create an AP bill of the loan entry for that month.

Please share your feedback and suggestions on this.

Thanks.

10 replies

meganfriesen37
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Userlevel 7
Badge +10

Is it the same amount for your repayment each month?  Take a look at Recurring transactions. 

  1. Set up the first bill and take it off hold, get it approved, etc. but do NOT release.  Leave it “Balanced”
  2. Under Payables > Profiles > Recurring Transactions set up a recurring transaction and select your Balanced AP Bill.  When you save your schedule, the bill will be updated to “Scheduled” and you won’t release it manually.
  3. Then under Payables > Processes > Generate Recurring Transactions, use the Schedules button to create a schedule to automatically run the process.

See this help article for more detailed steps:  https://help.acumatica.com/(W(3))/Help?ScreenId=ShowWiki&pageid=b13d4266-171b-4150-9bde-dc6fc6027220

Megan Friesen, Contego Software Solutions, Canada
H
Rank
Userlevel 6
Badge +3

Is it the same amount for your repayment each month?  Take a look at Recurring transactions. 

  1. Set up the first bill and take it off hold, get it approved, etc. but do NOT release.  Leave it “Balanced”
  2. Under Payables > Profiles > Recurring Transactions set up a recurring transaction and select your Balanced AP Bill.  When you save your schedule, the bill will be updated to “Scheduled” and you won’t release it manually.
  3. Then under Payables > Processes > Generate Recurring Transactions, use the Schedules button to create a schedule to automatically run the process.

See this help article for more detailed steps:  https://help.acumatica.com/(W(3))/Help?ScreenId=ShowWiki&pageid=b13d4266-171b-4150-9bde-dc6fc6027220

Yes it has the same amount for all. So shall I create the unreleased bill for all the total amount or just the amount for one month?
& in case if it doesnt have the same amount then?

meganfriesen37
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Userlevel 7
Badge +10

Create the bill just for one month, then set up the schedule for the number of months you want it to run,

Megan Friesen, Contego Software Solutions, Canada
H
Rank
Userlevel 6
Badge +3

Create the bill just for one month, then set up the schedule for the number of months you want it to run,

In case if the amount is varying for all the months for the single vendor?

H
Rank
Userlevel 6
Badge +3

Create the bill just for one month, then set up the schedule for the number of months you want it to run,

Hey @meganfriesen37 
What if the amount is varying for all the months for the single vendor?

Laura02
Rank
Badge +18

Hello,

Recurring transactions are for amounts that are the same every month for the same vendor.

If the amount of the bill changes, consider the following entry choices:

  1. “Memorize” the transaction as a Template that may be copied to a new transaction (then change the amount each month) in Cash Transactions, Journal Transactions, or AP Bills or AP - Cash Purchases screen.
  2. Save as Template

     

  3. Use the Bank Feed to enter the new transaction during the Matching Process.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~
H
Rank
Userlevel 6
Badge +3

Hello,

Recurring transactions are for amounts that are the same every month for the same vendor.

If the amount of the bill changes, consider the following entry choices:

  1. “Memorize” the transaction as a Template that may be copied to a new transaction (then change the amount each month) in Cash Transactions, Journal Transactions, or AP Bills or AP - Cash Purchases screen.
  2. Save as Template

     

  3. Use the Bank Feed to enter the new transaction during the Matching Process.

Laura

Hello @Laura02 ,

Would it be possible if I setup an Import scenario and an automation schedule for the same. So it would be like the csv file would have all the loan entries for the whole year and for each entry an AP bill should be created at the starting of each month depending on the loan entry period in the csv file.

Laura02
Rank
Badge +18

Edited - I think an automation schedule is not the best solution. If you are importing one bill per month, you will need to update the amounts in your Import scenario - CSV file every month, before the automation schedule imports.   

Why not import the group of loan entries for the year at one time with proper posting periods into the future?

 

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~
H
Rank
Userlevel 6
Badge +3

Edited - I think an automation schedule is not the best solution. If you are importing one bill per month, you will need to update the amounts in your Import scenario - CSV file every month, before the automation schedule imports.   

Why not import the group of loan entries for the year at one time with proper posting periods into the future?

 

Laura

So at the moment we have a numbering seq setup on auto. So if I would import an AP bill for the future periods too how would that work? I have a Bill with 001 for May period and then I have bills for loans for 4 months listed as 002, 003, 004 & 005 for May, June, July & Aug months. And then I would create a new AP bill for the May period with 006. Is it how it would work?

Laura02
Rank
Badge +18

Yes, you have correctly described how the numbering would work.

If an auditor wants to know about “skipped” numbers - you will show them that loan entries were imported as a group to future periods. There are no missing document numbers - all are accounted for.

 

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~

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