FarmBooks User Guide

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  4. Section 6: Balances
  5. Loan Balances

Loan Balances

Loan Balances

Enter individual loans with a beginning loan balance and use an external code to identify each loan or lump all loans under a single external code.

  1. To open the Loan Balances window, click Balances: Loan.
    FarmBooks dropdown menu showing Loan Balances option selected
  2. Click the Add button (or Alt-A) to enter a new loan.
    FarmBooks screenshot showing the Beginning Loan Balances window
  3. The Loans window will open. Click the External Code button.
    FarmBooks Loan window showing beginning balance field
  4. When the Loans/Receivable window opens, you will see a list of unique External Codes used to identify your loans. Click an external code in the list, and then click Apply.
    FarmBooks Loans/Receivables window with the Apply button selectedIf you want to use an external code not shown in the list, click the Add button (or Alt-A). When the Add – Loan/Receivable window appears, enter a Description (i.e., “John Deere Tractor”) for the code. To save the new code, click the Add button (or Alt-A). Click the Close button (or Alt-C) to return to the external code list. The new external code will appear in the list, and can be applied to the loan as outlined above.
    FarmBooks Loans/Receivables window with the Add button selected
    FarmBooks Add Loan / Receivables window with Description field
  5. When you return to the Loans window, click the ATIG button.
    FarmBooks Loan window with ATIG button selected
  6. The Loan ATIGs window will open. Select the loan type and then click Apply.
    FarmBooks Loan ATIGs window
  7. Finally, enter the loan beginning amount as of the first day of the fiscal year, then click the Add button (or Alt-A) to save the loan.
    FarmBooks Loan window showing Beginning Loan Balance
    Please note, if the loan was received any time after the first day of the fiscal year, you must enter “0” for the Beginning Balance. You can then enter the amount received by creating a record of the Deposit on date of receipt.On the other hand, if you are entering a loan which has a balance to be carried forward from the previous year, enter that amountYou may enter optional details about the loan such as maturity date, interest rates, and a note. These values are only displayed in this window for your information.

    Click Add to save your loan information.