| Loan account set up screen |
SUMMARY: Create, edit new loan terms to be able to compare costs and difference between alternative loan packages in later screens and reports. Select an account by clicking the row and move to the toolbar. Click the graphics to open a report or loan calculator. Loan terms are automatically sent to the Loan register (next screen) for calculations of amortization and creation of loan report. Loan set up allows optional APR or I/360, I/365 or I/366, I/12 (monthly) interest rates, final balloon payments, differing loan draw and repayment start date plus lender name and address details.