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The loan calculator builds a full repayment schedule for a loan and saves it to your budget as budget items. The drawdowns and repayments flow into the balance sheet and direct cash flow, and the interest into the income statement.

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Before you start

  • Open a report with the budget you want to save the loan to. The calculator saves to the budget the table is showing
  • Your organization needs budget item types for loan debt and loan interest, each with a default account. If they are missing, saving shows a message telling you what to set up

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Open the calculator

  1. On a report, click Actions.
  2. Choose Add > Loan….
The Loan window opens on the Basic tab.

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Enter the loan details

On the Basic tab, fill in:
  • Loan ID: a name for the loan. It is used in the memo of each budget item
  • Loan amount and Currency
  • Base rate (%) and Margin (%): the effective rate is base rate + margin
  • Day count convention: Actual/360 (the default and most common in European loans), Actual/365, Actual/Actual or 30/360
  • Repayment type:
    • Annuity: the same total payment every period
    • Equal principal: the same principal repayment every period, so the total payment shrinks over time
    • Bullet: interest only, then the full amount at the end
  • Repayment frequency: how often a repayment is made, in months or years
  • Compounding: how often accrued interest is added to the balance
  • Start date: the date the loan is drawn down
  • Term: the length of the loan. The number of repayments always matches the term, for example 2 years with monthly payments gives 24 repayments
  • Repayment day: the day of the month repayments fall on. Leave it empty to use the day of the start date

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Add optional terms

Use the other tabs only if the loan needs them:
  • Grace & IO: set Principal grace (months) and Interest grace (months), or tick Interest-only period and set when it ends and how often interest and principal are paid during it
  • Capitalization: tick Capitalize interest to add interest to the loan instead of paying it. Choose Inline (add to principal) or As drawdown and set Capitalize until
  • FX: tick Multi-currency (FX) for a loan in a foreign currency. Enter the Loan currency, Reporting currency and a fixed FX rate, preferably the rate you have already booked
  • Drawdowns: by default the whole loan amount is drawn on the start date. Click Add drawdown to draw the loan in parts. The drawdowns must add up to the loan amount

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Calculate and save

  1. Click Calculate schedule. The summary shows Loan amount, Total interest, Total repaid, Final balance and Periods, followed by the schedule period by period.
  2. Optional: click Export CSV or Print / PDF to keep a copy of the schedule.
  3. Click Save to budget.
Caleido creates one budget item for each drawdown, principal repayment and interest payment, and opens them in the list view so you can check them. If you change any input after calculating, click Calculate schedule again before saving.
The budget items are ordinary budget items. To change or remove the loan later, edit or delete them like any other budget item. See Edit budget items.