Articles on: Accounting Routine

Why do I need to follow the loan amounts exactly as stated in the agreement?

When managing loans in your company’s accounting through our platform, it is essential to strictly follow the exact amounts specified in your loan agreement — both for the initial capital and for each repayment installment.

Why is this important?

Our system automatically matches payments to existing loan records. If the payment amounts do not match exactly, the system cannot match them correctly. This can result in:

Errors in your financial reporting
Delays in your Annual Report processing
Confusion regarding your outstanding balances

What you must do:

Let’s say your company has two separate loans, each for €2,000. Each loan must be repaid independently, using the exact amount and schedule defined in the loan agreement.

Correct:

Repay €2,000 for Loan A in one transaction
Repay €2,000 for Loan B in a separate transaction

Incorrect:

Sending a single payment of €4,000 to cover both loans
Paying €1999.50 instead of €2,000
Combining multiple installments into one payment

These incorrect actions prevent the system from matching transactions automatically, and they require manual intervention, which may slow down the processing of your accounting and reports.

Always refer to your loan agreement and ensure each payment aligns exactly with the defined structure. If you are unsure, please contact our support team before making a transfer.

Updated on: 22/04/2025

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