Post a loan instalment or accrue loan interest

Steps — post an instalment

1. Click Accountant in the left menu, then Borrowings.
2. On the loan's row, click Post instalment (it shows the instalment number).
3. Check the date and amounts in the confirmation and click OK.

Steps — accrue interest at month end

1. On the loan's row, click Accrue.
2. Enter the date to accrue to. MAJA suggests the end of the current month.
3. Confirm the amount.

Steps — see the schedule

1. Click the loan's row.
2. Read the facility, fees, net proceeds, effective rate and every instalment. Posted instalments are marked posted.

What MAJA does for you

• An instalment posts Dr 2500 (the reduction of the loan) and Dr 7100 Finance Costs (interest at the effective rate) / Cr your bank, on the instalment date.
• An accrual posts Dr Finance Costs / Cr Accrued Interest Payable on your date and the exact reverse the next day, so the instalment still posts in full.

Good to know

• Draw the loan down first; until then MAJA says there is nothing to repay or accrue.
• An instalment dated in a closed month or a filed VAT period is refused: Instalment blocked: ….
• Next due shows overdue in red when an instalment date has passed.