Overview | New User Interface
Legacy Interface Jump straight to the applicable section:
Simple Loan Calculator
As identified above, the simple loan calculator is for a client-facing meeting where you can visually take them through the impact of taking out a loan and the rate at which the principal is paid down over the lifetime of the loan in a visual manner.
Variables & Input Fields
|
Variable Name |
Description |
|
|---|---|---|
|
1
|
Start Date | This is the date that the loan will be due to start. |
|
2
|
Loan Amount | This is the total amount financed. |
|
3
|
Loan Term | This is the term of the loan (in years). |
|
4
|
Interest Rate (%) | This is the interest rate % |
|
5
|
Payment Frequency | This is how often the payments will occur. |
|
6
|
Graph | Demonstrates the results of the tool via a graph. |
|
7
|
Interest | This is the total interest payable over the life of the loan - calculated by the loan amount, loan term, interest rate and payment frequency. |
|
8
|
Repayment Amount | This is the repayment amount that will be required to meet the loan conditions. |
|
9
|
Total Repayments | This is the total repayment required over the life of the loan. |
|
10
|
Share Toolbar | Refer to menus & shared elements help page. |
How to create a new simple loan calculation
The idea of our Loan Calculator is that advisors would use this to assist their clients when taking out finance. Much the same as the banks would do, our Loan Calculator helps you give your clients an indication of how much their repayments would be in a nice visual manner.
Step #1 - Go to the loan calculators screen, ensure you're in the 'Simple' loans tab and select the icon "Create New Schedule".
Step #2-3 - If you wish to assign this to a client for future reference, identify the client and entered a short description before pressing "save". If you have no interest in saving the calculation, press "cancel".
Step #4 - Take your clients through the tool by completing the variables as required.
Output - Once you’ve finished, you can elect to print or save the outcome via the Action Menu.
How to print or export a simple loan report
At times you will want to output the report for printing or emailing to a client, or even collate into a broader report for a client. To get the applicable report out of the AccountKit, do as follows.
IMAGE PLEASE
- Either open up a pre-existing schedule or create a new one.
- Go to the Action menu and select "Save PDF".
- Depending on your browser it'll either open the file in a new tab or save it to your downloads folder.
Flexible Loan Calculator
The flexible loan calculator differs from the simple calculator in that it allows you to solve for different variables, and then build a schedule from this. Great for when you have a few of the variables but need to calculate the missing pieces.
Variables & Input Fields
| Variable Name |
Description |
|
|---|---|---|
|
Loan Variables: Define the basic loan variables |
||
|
1
|
Finance Type | Defines the type of finance being calculated for; This is purely cosmetic at this stage. |
|
2
|
Payment Periods | Defines the frequency of payment for regular repayments |
|
3
|
Compounding Periods | Defines the frequency that interest is compounded |
|
4
|
Start Date | This is the date that the finance contract was signed. |
|
5
|
First Payment Date | Defines when the first payment is due to be made. |
| Solve For: Select the applicable radio button for the variable you want to solve for | ||
|
6
|
Loan Amount | This is the total amount financed. |
|
7
|
Interest Rate | This is the interest rate. |
|
8
|
No of Periods | This is the total number of payments expected. |
|
9
|
Payment Per Period | This is the payment per period. |
|
10
|
Residual Balance | Defines the balance or balloon due at the end of the loan. |
| Your Results & Repayment Schedule | ||
|
11
|
Your Results | This shows a brief summary of the key elements of the loan for quick reference. |
|
12
|
Repayment Schedule | This is the full repayment schedule over the duration of the loan. |
|
13
|
Annual Summary | This tab shows a summary per financial year. |
How to create a new loan flexible loan schedule
Watch the short animation below, but then follow the accompanying instructions down below.
Round up the paperwork and identify the variables that you know about ready to make a start
Step #1 - Go to the loan calculators screen, ensure you're in the 'Flexible' loans tab and select the icon "Create New Schedule".
Step #2-3 - If you wish to assign this to a client for future reference, identify the client and entered a short description before pressing "save". If you have no interest in saving the calculation, press "cancel".
Step #4 - Take your clients through the tool by completing the variables as required.
Step #5 - Once you're happy with the figures, press "Calculate" to solve the missing variable, at which point the results will also populate.
Step #6 - Then if you're wanting a full loan schedule prepared, select the "Build Schedule" button
View Options - Switch between the repayment schedule tab and annual summary tab for a full and summarised version of the schedule.
Output - Once you’ve finished, you can elect to print or save the outcome via the Action Menu.
How to print or export a loan schedule
At times you will want to output the report for printing or emailing to a client, or even use for reconciling a loan whilst compiling the year-end tax work. To get the applicable schedule out of the AccountKit, do as follows.
- Either open up a pre-existing schedule or create a new one.
- Go to the Action menu and select either...
- Export to Excel
- Save PDF
- Depending on your browser it'll either open the file in a new tab or save it to your downloads folder.
{New Image Coming Soon}
Related Links
| Menus & Shared Elements | This support article covers all the menus and shared elements used throughout AccountKit |
Overview | Legacy User Interface
Simple Loan Calculator
As identified above, the simple loan calculator is for a client facing meeting where you can visually take them through the impact of taking out a loan and the rate at which the principle is paid down over the lifetime of the loan in a visual manner.
Variables & Input Fields
|
Variable Name |
Description |
|
|---|---|---|
|
1
|
Start Date | This is the date that the loan will be due to start. |
|
2
|
Loan Amount | This is the total amount financed. |
|
3
|
Loan Term | This is the term of the loan (in years). |
|
4
|
Interest Rate (%) | This is the interest rate % |
|
5
|
Payment Frequency | This is how often the payments will occur. |
|
6
|
Graph | Demonstrates the results of the tool via a graph. |
|
7
|
Interest | This is the total interest payable over the life of the loan - calculated by the loan amount, loan term, interest rate and payment frequency. |
|
8
|
Repayment Amount | This is the repayment amount that will be required to meet the loan conditions. |
|
9
|
Total Repayments | This is the total repayment required over the life of the loan. |
How to create a new simple loan calculation
The idea of our Loan Calculator is that advisors would use this to assist their clients when taking out finance. Much the same as the banks would do, our Loan Calculator helps you give your clients an indication of how much their repayments would be in a nice visual manner.
- Go to the loan calculators screen and select the "Create New Loan Calculator" and select "Simple Loan Calculator".
- If you wish to assign this to a client for future reference, identify the client and entered a short description before pressing "save". If you have no interest in saving the calculation, press "cancel".
- Take your clients through the tool by completing the variables as required.
- Once you’ve finished, you can elect to print or save the outcome via the Action Menu.
How to print or export a simple loan report
At times you will want to output the report for printing or emailing to a client, or even collate into a broader report for a client. To get the applicable report out of the AccountKit, do as follows.
- Either open up a pre-existing schedule or create a new one.
- Go to the Action menu and select "Save PDF".
- Depending on your browser it'll either open the file in a new tab or save it to your downloads folder.
Flexible Loan Calculator
The flexible loan calculator differs from the simple calculator in that it allows you to solve for different variables, then build a schedule from this. Great for when you have a few of the variables but need to calculate the missing pieces.
Variables & Input Fields
| Variable Name |
Description |
|
|---|---|---|
|
Loan Variables: Define the basic loan variables |
||
|
1
|
Finance Type | Defines the type of finance being calculated for; This is purely cosmetic at this stage. |
|
2
|
Payment Periods | Defines the frequency of payment for regular repayments |
|
3
|
Compounding Periods | Defines the frequency that interest is compounded |
|
4
|
Start Date | This is the date that the finance contract was signed. |
|
5
|
First Payment Date | Defines when the first payment is due to be made. |
| Solve For: Select the applicable radio button for the variable you want to solve for | ||
|
6
|
Loan Amount | This is the total amount financed. |
|
7
|
Interest Rate | This is the interest rate. |
|
8
|
No of Periods | This is the total number of payments expected. |
|
9
|
Payment Per Period | This is the payment per period. |
|
10
|
Residual Balance | Defines the balance or balloon due at the end of the loan. |
| Your Results & Repayment Schedule | ||
|
11
|
Your Results | This shows a brief summary of the key elements of the loan for quick reference. |
|
12
|
Repayment Schedule | This is the full repayment schedule over the duration of the loan. |
|
13
|
Annual Summary | This tab shows a summary per financial year. |
How to create a new loan flexible loan schedule
Watch the short animation below, but then follow the accompanying instructions down below.
Round up the paperwork and identify the variables that you know about ready to make a start
- Go to the loan calculators screen and select the "Create New Loan Calculator" and select "Flexible Loan Calculator".
- If you wish to assign this to a client for future reference, identify the client and entered a short description before pressing "save". If you have no interest in saving the calculation, press "cancel".
- Work your way through the loan variables and solve for fields with what you know, then select the radio button next to the variable you want to solve for - more often than not it'll be the interest rate.
- Once you're happy with the figures, press "Calculate" to solve the missing variable, at which point the results will also populate.
- Then if you're wanting a full loan schedule prepared, select the "Build Schedule" button,
- Switch between the repayment schedule tab and annual summary tab for a full and summarised version of the schedule.
How to print or export a loan schedule
At times you will want to output the report for printing or emailing to a client, or even use for reconciling a loan whilst compiling the year-end tax work. To get the applicable schedule out of the AccountKit, do as follows.
- Either open up a pre-existing schedule or create a new one.
- Go to the Action menu and select either...
- Export to Excel
- Save PDF
- Depending on your browser it'll either open the file in a new tab or save it to your downloads folder.
Related Links
| Menus & Shared Elements | This support article covers all the menus and shared elements used throughout AccountKit |
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