45 seconds, with voice and captions. The company on screen is a demo with invented books.
The steps
- Click “New loan”. “Upload PDF” of the loan document, or type the terms in plain words.
- The Loan terms panel fills in: lender, principal, rate, term in months, start date. Check every value.
- The amortization shows the payment, the number of payments and the total interest. “Create loan” records it with its liability account.
- Each payment splits into principal and interest. The bank side arrives through a normal import, and the loan's clearing account nets to zero.
- The balance is always computed from the schedule — never typed in.
What the video says
Every word, written out
Loans. A schedule that posts at the close.
Click New loan.
Upload the loan document as a PDF, or type the terms in plain words.
The loan terms panel fills in. Lender, principal, rate, term in months, and start date. Check every value.
The amortization shows the payment, the number of payments, and the total interest. Create loan records it, with its liability account.
Each payment splits into principal and interest. The bank side arrives through a normal import, and the loan's clearing account nets to zero. The balance is always computed from the schedule. Never typed in.
Try it on your own books. One set of books is free.