Loan contracts

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Sometimes, to support and speed up development of your business, you may need to borrow money from another company for a short term without collateral. With such a loan, for the period you agreed with your lender, your company can fill up its working capital, while your lender can earn extra money by interest and an optional commission your company pays to them for the loan.

Alternatively, if your company wants to support and retain its staff members, you can lend the money to your employees as a short-term loan and also get your interest. In either scenario, to have a clear picture of the financial health and forecast of your company, you need to register such loans in 1C:Drive as they affect your company's balance sheet, cash flow, and income statement.

To keep records of a loan you agreed upon with your counterparty or employee, register a loan contract in 1C:Drive. A loan contract defines whether your company is a borrower or a lender and specifies all the terms according to which you are to receive or issue the loan, pay for it, or get payments for it. Of course, you first come to an agreement on the loan details and then keep records of them in the loan contract.

The loan contract becomes the source document from which you generate documents that describe the accruals schedule and payments schedule and the actual accruals and payments.

Creating loan contracts as a borrower

To register a loan contract under which your company borrows money:

Go to Cash management > Loan management > Loan contracts.
Click Create.
In the Loan type list, click Borrowed.
In the Lender list, click the counterparty company that lends the money to your company.
Specify loan terms.
For more information, see Managing loan terms of loan contracts.
Specify repayment terms.
For more information, see Managing repayment terms of loan contracts.
Specify GL accounts for tracking the loan's accruals and payments.
For more information, see Managing GL accounts of loan contracts.
Click Post.

Note. Posting a loan contract adds records of the loan installments to the Loan installments information register.

Creating loan contracts as a lender

To register a loan contract under which your company lends money:

Go to Cash management > Loan management > Loan contracts.
Click Create.
From the Loan type drop-down list, select either of the following:
- Lent to employee. A loan provided to a company's employee.
- Lent to counterparty. A loan provided to another company.
Depending on your choice on step 3, from the Employee or Borrower drop-down list, select an employee or a company that borrows money.
Specify loan terms.
For more information, see Managing loan terms of loan contracts.
Specify repayment terms.
For more information, see Managing repayment terms of loan contracts.
Specify GL accounts for tracking the loan's accruals and payments.
For more information, see Managing GL accounts of loan contracts.
Click Post.

Note. Posting a loan contract adds records of the loan installments to the Loan installments information register.

Managing loan terms of loan contracts

For each loan contract, specify its loan terms. To do this, use the Loan terms tab of the loan contract:

Currency. The loan currency.
Principal. The amount of money you borrow or lend.
Annual interest, %. The annual interest of the loan, in percent.
Commission. The type of the commission you are to pay for the loan you borrow. Available values:
- No. No commission.
- Amount (per month). The fixed amount each month.
- % of principal (per month). The percentage of the loan principal each month.
- % of principal balance (per month). The percentage of the remaining principal due on the loan each month.
- Custom schedule of repayments terms tab. You specify the commission according to the custom installments.
Amount. The amount of the commission you are to pay for the loan you borrow, in terms of money or in percent, depending on the commission type.
Issued on. The date when the lender issues the loan.
For the period. The number of months during which the borrower is to repay the loan completely.
Maturity. The final date when the borrower is to repay the loan completely.
First repayment. The date when the borrower is to make the first payment of the loan.

Managing repayment terms of loan contracts

The repayment terms of a loan contract define the installments. They use the loan terms of the loan contract for calculating the schedule.

To specify the repayment terms, use the Repayment terms tab of the loan contract:

One-time (on maturity date). Click this if the loan is to be repaid once on the maturity date. Thus, by default, the installments contains only one record.
Monthly. Click this if the loan is to be repaid on the monthly basis.
Charge from salary. Select this check box to automatically deduct payments for the loan your company provides to its employee from the employee's salary.
As in loan calculators (360 days a year). Select this check box to use the Earning convention where a year has 360 days and 12 months, each having 30 days. This helps you budget the amount of interest accrued on accounts payable or accounts receivable evenly across the financial year. Otherwise, a year has 365 or 366 days for the installments.
This check box is available if the Settings > Accounting settings > Payroll > Enable Payroll subsystem option is turned on.
Payment method. A planned method of loan repayment. By default, the following methods are available:
- Cash. Repay a loan from a cash account.
- Direct debit. Authorize a bank or service payment provider to repay a loan from a borrower's bank account at regular intervals.
- Electronic. Repay a loan from a bank account
- Undefined. Use any method of loan repayment.
Bank account. A bank account to repay a loan from. It is prefilled in bank payments and bank receipts generated from the loan contract.
This field is available if you select Payment method whose Cash asset type is Electronic.
Cash account. A cash account to repay a loan from. It is prefilled in cash vouchers and cash receipts generated from the loan contract.
This field is available if you select Payment method whose Cash asset type is Cash.
Payments. Specify the payment type for the loan that is repaid monthly, and then click Fill to automatically fill in the instalments. Available values:
- Annuity payments. Equal payments every month up to the maturity date. A payment includes principal and interest. Their ratio is different for each payment.
- Fixed principal payment. Equal principal payments every month up to the maturity date plus the interest.
- Only interest (principal on maturity date). Equal interest payments every month up to the maturity day and repayment of the entire principal on the maturity date.
- Only principal (interest on maturity date). Equal principal payments every month up to the maturity day and repayment of the entire interest on the maturity date.
- Custom installments. Arbitrary installments.

You can change and delete installments.

To add a record to the installments:

Click Add and specify the payment record details.

If you change records in the installments manually (rather than by using the Fill button), you need to update the loan repayment balance after that. To do this:

In the More actions menu of the Repayment terms tab, click Update comments.

1C:Drive updates the loan repayment balance in the Comment column.

For instance, if your employee or your company makes an early repayment of a loan, you have to manually correct the installments of the loan contract. This will allow you to keep generating documents based on the loan contract with accurate amounts. Otherwise, you will have to manually correct the amounts in payments and accruals every time you generate the documents.

Managing GL accounts of loan contracts

When creating and configuring a loan contract, you also need to specify the general ledger (GL) accounts that you want to use to keep records of the operations related to the loan.

Before selecting the GL accounts, make sure that you created a chart of accounts in 1C:Drive.

For the loan contract, on the GL accounts tab, select the accounts and analytical dimensions that you want to use:

Principal GL account
Interest GL account
Commission GL account. This field is available if you specify the commission in the loan terms of the contract.
Profit/loss GL account. An account for recording your company's income or expenses on the loan contract. This account is required for posting "Loan interest (commission) accruals" documents.
Department. A department responsible for loan contract processing.
Fill in this field if you want to track profits and losses by department.
The field is available if Principal GL account, Commission GL Account, or Interest GL account is an account whose Account type is Administrative expenses.
Order. A sales order that a loan is related to.
Fill in this field if you want to track profits and losses by sales order.
The field is available if Principal GL account, Commission GL Account, or Interest GL account is an account whose Account type is Administrative expenses.
Business area. A line of business that a loan is related to.
Fill in this field if you want to track profits and losses by business line.
The field is available if Principal GL account, Commission GL Account, or Interest GL account is an account whose Account type is Administrative expenses.
Expense account
Deduction (principal debt). This field is available if you select the Charge from salary check box in the repayment terms of the contract for the loan you lend.

Viewing loan contract totals

After you specify the loan terms and repayment terms of a loan contract, 1C:Drive automatically calculates and displays totals for the contract in the bottom line, in money terms:

Principal. The total principal amount.
Interest. The total interest amount.
Commission. The total commission amount.
Total amount. Principal + interest + commission.

This lets you estimate whether the loan contract matches your needs.

Managing loan payment reminders

After you specify the installments for a loan contract, you may need to set reminders that will notify you that it is time to pay or get a payment for the loan. You can set reminders for the first payment or for all payments scheduled in the loan contract.

To be able to set reminders in 1C:Drive:

In the navigation menu bar, go to Settings.
Under Application settings, click Organizer.
Under Reminders and message templates, select the Reminders checkbox.

To view the list of reminders:

Go to Quick menu > My reminders.

Creating the first payment reminder

To create the first payment reminder for a loan contract:

Open the loan contract.
In the More actions menu of the loan contract, click More actions > Organizer > Remind.
Specify when 1C:Drive is to remind you about the first payment.
Click Save and close.

Creating reminders for all scheduled payments

To create reminders for all scheduled payments of a loan contract:

Open the loan contract.
Click the Repayment terms tab.
Click Create reminders.
Select whether to remind on the payment day or on the day before payment.
Specify the reminder time.
Select the user who will get the reminder.
Click Create payment reminders.
Click Close.

1C:Drive creates reminders for all installments at once.

Receiving loans and paying them

After creating a contract on a loan you borrowed from another company:

Register the fact of receiving the loan (in cash or via a bank transfer).
Create accruals for the loan's interest and commission.
Register your payments for the loan (in cash or via a bank transfer) according to the installments defined in the contract.

Receiving borrowed loans in cash

To register the fact of receiving a loan in cash:

Open the loan contract.
Click Generate and then click Cash receipt. 1C:Drive creates a cash receipt document based on the loan contract and populates it.
Note. The Operation field has the Loan borrowed value.
In the Cash account list, click the account to which you receive the money in cash.
In the Amount field, specify the amount of money you receive.
Click Post.

On the Loan account statement tab, 1C:Drive displays the total loan amount according to the contract and the remaining amount of the loan you have to receive.

Receiving borrowed loans via bank transfer

To register the fact of receiving a loan via a bank transfer:

Open the loan contract.
Click Generate and then click Bank receipt.
1C:Drive creates a bank receipt document based on the loan contract and populates it. Note that the Operation field has the Loan borrowed value.
In the Account list, click the bank account to which you receive the money.
In the Amount field, specify the amount of money you receive.
If the bank that serves your account charges you for receiving the money, select the Bank fee checkbox and then, under Bank fees, fill the Bank fee type, Cash flow item, and Amount fields.
Click Post.

On the Borrowed loan details tab, 1C:Drive displays the total loan amount according to the contract and the remaining amount of the loan you have to receive.

Creating accruals for borrowed loans

Typically, a loan contract includes an interest you are to pay for the loan you borrow. Also, the contract can include a commission. So, for such loans, interest and commission serve as your expense.

To register accruals for such interest and commission in 1C:Drive, use the loan interest (commission) Earning documents. You can create such accruals based on particular loan contracts.

To create accruals for one or several borrowed loans:

Go to Cash management > Loan management > Loan interest (commission) accruals.
Click Create.
In the Operation list, click accruals for loans borrowed.
Specify the start and end of the Earning period.
On the Accruals tab, click Fill.
In the Fill in Accruals dialog box, do any the following:
- In the Lender list, click the lender whose loans you want to apply.
- In the Loan contract list, click the borrowed loan contract you want to apply.
The document will list only accruals for the selected lender and contracts. If you do not select any, it will contains the accruals for all lenders and contracts.
Click Apply.
1C:Drive populates the table on the Accruals tab according to the loan contracts and the Earning period you specified. You can add, edit, or delete table records.
Click Post.

Paying for borrowed loans in cash

To register a loan payment in cash:

Do one of the following:
- Open a loan contract, click Generate > Cash voucher.
- Do the following:
  1. Go to Cash management.
  2. Under Loan management, click Loan interest (commission) accruals.
  3. In the Loan interest (commission) accruals list select an item whose Operation is Accruals for loans borrowed.
  4. Click Generate > Payment.
  5. At the bottom of the Payment form, click Cash payment.
1C:Drive creates a cash voucher based on the loan contract or the Earning and populates it. Note that the Operation field has the Loan repayment value.

Since an Earning does not include principal and can include just interest and commission, generating a cash voucher based on the Earning makes sense if the loan contract's payment type is Only interest (principal on maturity date).
In the Cash account list, click the account from which you pay the money in cash.
On the Payment details tab, 1C:Drive displays the debt balance according to the loan contract and information about the next payment: date and amounts to pay for principal, interest, and commission.
In the Amount field, specify the amount of money you pay, or set it to zero.
If you set the amount to zero, 1C:Drive will calculate the amount.
On the Payment details tab, click Populate with loan installments.
Do any of the following:
- Select the Next payment check box to populate the payment according to the next payment in the loan contract's installments.
- Select the Previous payment check box to clone the payment details from the previous payment you already received for the loan from the employee.
- Select the Remaining debt check box to get the remaining principal of the loan.
- Select the Complete early repayment check box to get full repayment of the remaining debt of the loan, including its principal, interest, and commission.
If necessary, for the items you selected, change the payment date, principal, interest, or commission.
If you want to clear the payment details of the cash voucher before populating it according to the loan contract, select the Overwrite existing data check box.
-OR-

If you want to append new payment details to existing ones, clear the Overwrite existing data check box.
Click Fill.
1C:Drive populates the payment details on the Payment details tab according to the amount and the payment options you specified:
- If you selected the Overwrite existing data checkbox and specified a nonzero amount in the Amount field, 1C:Drive distributes this amount in the payment details (what goes to principal, what goes to interest, and what goes to commission). If 1C:Drive cannot distribute the entire amount, it adds a record with the remaining amount and a blank value in the Type of amount column.
- If you selected the Overwrite existing data check box and specified a zero amount in the Amount field, 1C:Drive populates the amount with the total of the Payment amount column.
- If you cleared the Overwrite existing data check box, 1C:Drive ignores the Amount field and populates the payment details according to the payment options you specified.
On the Payment details tab, you can add, change, or delete records.
Click Post.

Paying for borrowed loans via bank transfer

To register a loan payment via a bank transfer:

Do one of the following:
- Open the loan contract, click Generate, and then click Bank payment.
- Do the following:
  1. Go to Cash management.
  2. Under Loan management, click Loan interest (commission) accruals.
  3. In the Loan interest (commission) accruals list select an item whose Operation is Accruals for loans borrowed.
  4. Click Generate > Payment.
  5. At the bottom of the Payment form, click Bank payment.
1C:Drive creates a bank payment document and populates it based on the loan contract or Earning. Note that the Operation field has the Loan repayment value.

Since an Earning does not include principal and can include just interest and commission, generating a bank payment document based on the Earning makes sense if the loan contract's payment type is Only interest (principal on maturity date).
In the Account list, click the bank account from which you pay the money.
On the Payment details tab, 1C:Drive displays the debt balance according to the loan contract and information about the next payment: date and amounts to pay for principal, interest, and commission.
If the bank that serves your account charges you for transferring the money, select the Bank fee checkbox and then, under Bank fee, fill the Bank fee type, Cash flow item, and Amount fields.
In the Amount field, specify the amount of money you pay, or set it to zero.
If you set the amount to zero, 1C:Drive will calculate the amount.
On the Payment details tab, click Populate with loan installments contract.
Do any of the following:
- Select the Next payment check box to populate the payment according to the next payment in the loan contract's installments.
- Select the Previous payment check box to clone the payment details from the previous payment you already received for the loan from the employee.
- Select the Remaining debt check box to get the remaining principal of the loan.
- Select the Complete early repayment check box to get full repayment of the remaining debt of the loan, including its principal, interest, and commission.
If necessary, for the item you selected, change the payment date, principal, interest, or commission.
If you want to clear the payment details of the bank payment document before populating it according to the loan contract, select the Overwrite existing data check box.
-OR-

If you want to append new payment details to existing ones, clear the Overwrite existing data check box.
Click Fill.
1C:Drive populates the payment details on the Payment details tab according to the amount and the payment options you specified:
- If you selected the Overwrite existing data check box and specified a nonzero amount in the Amount field, 1C:Drive distributes this amount in the payment details (what goes to principal, what goes to interest, and what goes to commission). If 1C:Drive cannot distribute the entire amount, it adds a record with the remaining amount and a blank value in the Type of amount column.
- If you selected the Overwrite existing data check box and specified a zero amount in the Amount field, 1C:Drive populates the amount with the total of the Payment amount column.
- If you cleared the Overwrite existing data check box, 1C:Drive ignores the Amount field and populates the payment details according to the payment options you specified.
On the Payment details tab, you can add, change, or delete records.
Click Post.

Issuing loans and and getting payments for them

After creating a contract on a loan you lent to your company's employee:

Register the fact of issuing the loan (in cash or via a bank transfer).
Create accruals for the loan's interest.
Either register incoming payments for the loan (in cash or via a bank transfer), or have loan repayments charged from the employee's salary, according to the installments defined in the contract.

Issuing loans in cash

To register the fact of issuing the loan to your company's employee in cash:

Open the loan contract.
Click Generate and then click Cash voucher.
1C:Drive creates a cash voucher based on the loan contract and populates it. Note that the Operation field has the Loan to employee value.
In the Cash account list, click the account from which you pay the money in cash.
In the Amount field, specify the amount of money you give out.
Click Post.

On the Payment details tab, 1C:Drive displays the total loan amount according to the contract and the remaining amount of the loan you have to issue to the employee.

Issuing loans via bank transfer

To register the fact of issuing the loan to your company's employee via a bank transfer:

Open the loan contract.
Click Generate and then click Bank payment.
1C:Drive creates a bank payment document based on the loan contract and populates it. Note that the Operation field has the Loan to employee value.
In the Account list, click the bank account from which you pay the money.
If the bank that serves your account charges you for transferring the money, select the Bank fee checkbox and then, under Bank fee, fill the Bank fee type, Cash flow item, and Amount fields.
In the Amount field, specify the amount of money you give out.
Click Post.

On the Payment details tab, 1C:Drive displays the total loan amount according to the contract and the remaining amount of the loan you have to issue to the employee.

Creating Accruals for lent loans

Typically, a loan contract includes an interest you are to get for the loan you issue. So, for such loans, interest serves as your income.

To register accruals for such interest in 1C:Drive, use the loan interest (commission) Earning documents. You can create such accruals based on particular loan contracts.

To create accruals for one or several lent loans:

Go to Cash management > Loan management > Loan interest (commission) accruals.
Click Create.
In the Operation list, click Accruals for loans lent.
Specify the start and end of the Earning period.
On the Accruals tab, click Fill.
In the Fill in Accruals window, do any the following:
- In the Borrower list, specify the employee or counterparty whose loans you want to apply.
- In the Loan contract list, click the lent loan contract you want to apply.
- To apply only the contracts where the Charge from salary check box is selected, select the Charged from salary only check box.
  The document will list only accruals for the selected employees and contracts. If you do not select any, it will contains the accruals for all lent loan contracts.
Click Apply.
1C:Drive populates the table on the Accruals tab according to the loan contracts and the Earning period you specified. You can add, edit, or delete the table records.
Click Post.

Getting payments for lent loans in cash

To register an incoming payment in cash for the loan according to the installments defined in the contract:

Do one of the following:
- Open the loan contract, click Generate, and then click Cash receipt.
- Do the following:
  1. Go to Cash management.
  2. Under Loan management, click Loan interest (commission) accruals.
  3. In the Loan interest (commission) accruals list select an item whose Operation is Accruals for loans lent.
  4. Click Generate > Payment.
  5. At the bottom of the Payment form, click Cash receipt.
1C:Drive creates a cash receipt document based on the loan contract and populates it. Note that the Operation field has the Loan repayment by employee value. Since an Earning does not include principal and can include just interest, generating a cash receipt document based on the Earning makes sense if the loan contract's payment type is Only interest (principal on maturity date).
In the Cash account list, click the account to which you receive the money in cash.
On the Loan account statement tab, 1C:Drive displays your employee's debt balance according to the loan contract and information about the next payment: date and amounts to pay for principal, interest, and commission.
In the Amount field, specify the amount of money you receive, or set it to zero.
If you set the amount to zero, 1C:Drive will calculate the amount.
On the Loan account statement tab, click Populate from loan contract.
Do any of the following:
- Select the Next payment check box to populate the payment according to the next payment in the loan contract installments.
- Select the Previous payment check box to clone the payment details from the previous payment you already received for the loan from the employee.
- Select the Remaining debt check box to get the remaining principal of the loan.
- Select the Complete early repayment check box to get full repayment of the remaining debt of the loan, including its principal, interest, and commission.
If necessary, for the items you selected, change the payment date, principal, interest, or commission.
If you want to clear the payment details of the cash voucher before populating it according to the loan contract, select the Overwrite existing data check box.
-OR-

If you want to append new payment details to existing ones, clear the Overwrite existing data check box.
Click Fill.
1C:Drive populates the payment details on the Loan account statement tab according to the amount and the payment options you specified:
- If you selected the Overwrite existing data check box and specified a nonzero amount in the Amount field, 1C:Drive distributes this amount in the payment details (what goes to principal, what goes to interest, and what goes to commission). If 1C:Drive cannot distribute the entire amount, it adds a record with the remaining amount and a blank value in the Type of amount column.
- If you selected the Overwrite existing data check box and specified a zero amount in the Amount field, 1C:Drive populates the amount with the total of the Payment amount column.
- If you cleared the Overwrite existing data check box, 1C:Drive ignores the Amount field and populates the payment details according to the payment options you specified.
On the Loan account statement tab, you can add, change, or delete records.
Click Post.

Getting payments for lent loans via bank transfer

To register an incoming payment via a bank transfer for the loan according to the installments defined in the contract:

Do one of the following:
- Open the loan contract, click Generate, and then click Bank receipt.
- Do the following:
  1. Go to Cash management.
  2. Under Loan management, click Loan interest (commission) accruals.
  3. In the Loan interest (commission) accruals list select an item whose Operation is Accruals for loans lent.
  4. Click Generate > Payment.
  5. At the bottom of the Payment form, click Bank receipt.
1C:Drive creates a bank receipt document based on the loan contract and populates it. Note that the Operation field has the Loan repayment by employee value.

Since an Earning does not include principal and can include just interest, generating a bank receipt document based on the Earning makes sense if the loan contract's payment type is Only interest (principal on maturity date).
In the Account list, click the bank account to which you receive the money.
On the Loan repayment details tab, 1C:Drive displays your employee's debt balance according to the loan contract and information about the next payment: date and amounts to pay for principal, interest, and commission.
In the Amount field, specify the amount of money you receive or set it to zero.
If you set the amount to zero, 1C:Drive will calculate the amount.
If the bank that serves your account charges you for receiving the money, select the Bank fee checkbox and then, under Bank fees, fill the Bank fee type, Cash flow item, and Amount fields.
On the Loan repayment details tab, click Populate from loan contract.
Do any of the following:
- Select the Next payment check box to populate the payment according to the next payment in the loan contract installments.
- Select the Previous payment check box to clone the payment details from the previous payment you already received for the loan from the employee.
- Select the Remaining debt check box to get the remaining principal of the loan.
- Select the Complete early repayment check box to get full repayment of the remaining debt of the loan, including its principal, interest, and commission.
If necessary, for the item you selected, change the payment date, principal, interest, or commission.
If you want to clear the payment details of the bank payment document before populating it according to the loan contract, select the Overwrite existing data check box.
-OR-

If you want to append new payment details to existing ones, clear the Overwrite existing data check box.
Click Fill.
1C:Drive populates the payment details on the Loan repayment details tab according to the amount and the payment options you specified:
- If you selected the Overwrite existing data check box and specified a nonzero amount in the Amount field, 1C:Drive distributes this amount in the payment details (what goes to principal, what goes to interest, and what goes to commission). If 1C:Drive cannot distribute the entire amount, it adds a record with the remaining amount and a blank value in the Type of amount column.
- If you selected the Overwrite existing data check box and specified a zero amount in the Amount field, 1C:Drive populates the amount with the total of the Payment amount column.
- If you cleared the Overwrite existing data check box, 1C:Drive ignores the Amount field and populates the payment details according to the payment options you specified.
On the Loan repayment details tab, you can add, change, or delete records.
Click Post.

Getting payments for lent loans via payroll

If you selected the Charge from salary check box in a loan contract where you lend money to your employee, you can charge a loan payment from the employee's salary. This is possible for the employees who are hired according to the hiring documents and who received the loan from your company.

To have payments charged from employee's salary, create a payroll and specify loan repayment details in the payroll according to the accruals. To do this:

Go to Payroll > Payroll > Payroll documents.
Click Create > Payroll.
In the Registration period field, select the payroll month.
Click the Loan repayment tab.
Click Fill in.
1C:Drive populates the Loan repayment tab. For each employee for which you have accruals for lent loans during the payroll period, 1C:Drive displays the charged principal, accrued and charged interest, and the loan contract.
On the Loan repayment tab, you can add, change, or delete records.
Click Post.

The loan payments charged from the employee's salaries are added to their payslip documents.

Loan management reports

To analyze and control settlements on loans your company borrowed, use the Cash management > Reports > More reports... > Loans borrowed report.

To analyze and control settlements on loans your company lent to its employees, use the Cash management > Reports > More reports... > Loans lent report.

These two reports are options of the same report. So, when you open one of them, you can quickly switch to another.

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