TrackLoan Working

TrakLoan maintains a database of accounts, loan types, and a journal of payments and disbursements.

The TrakLoan operator enters payments or disbursements into the journal as they are made at various times during the month or other fiscal period.

At the end of each period the operator clicks the [Post Journal] button and TrakLoan posts the journal. Posting updates the account records with the transac- tions in the journal and produces a posting report that shows the status of each loan before and after posting.

Each account is shown on the posting report. If an account had transactions during the period, each transaction for the account is printed showing days since the last transaction, transaction amount, interest accrued, interest paid, principal paid, un- paid interest due, and the current principal balance. If an account had no transac- tions, accrued interest is computed, printed, and added to the unpaid interest total. All accounts are brought up to date as of the posting date so that you get an accurate figure for interest accrued during the month or other accounting period.

Posting also produces a summation of totals for each loan type of interest accrued, interest paid, principal paid, current loan balance and unpaid interest.

The journal is erased after posting and made ready for the next fiscal period’s en- tries.

TrakLoan includes a utility that lets you instantly compute a payout amount for any date -- the payment necessary to close the account as of that date.

TrakLoan also tracks overdue accounts and gives you a listing of accounts with overdue payments.

Special Notations in This Manual

• <Angle Brackets>: A word enclosed in angle brackets, such as <Enter>, indicates a key on your key- board.
• [Square Brackets]: Capitalized words in bold type surrounded with square brackets, such as [Edit], indicate a button on a TrakLoan screen.
• Bold: Capitalized words in bold type without square brackets, such as Number, indi- cate a named toolbar tool, box, or named group of buttons or boxes on a Trak- Loan screen.
• Bold | Underlined: Bold, underlined words with vertical bars between indicate a menu sequence. For
  instance, the expression, ‘‘File | P rinter sequence’’ means click the ‘‘File’’ menu and then click the ‘‘Printer’’ menu item within the ‘‘File’’ menu.

What You Need to Operate TrakLoan

To run TrakLoan successfully you need:

• A reasonably fast computer running Windows 95, 98, ME, NT 4.0 or 2000. If you’re running Windows NT 4.0, you need to have installed Microsoft’s service packs through SP 4.
• A good printer. We recommend a laser printer for speed, but TrakLoan will work well, though less quickly, with an ink jet printer Although TrakLoan will work with a dot matrix printer, we don’t recommend using one.
• A mouse or other pointing device. Each of TrakLoan’s screens includes standard Windows menu sequences that will let you do many things with the keyboard, but to run TrakLoan comfortably you need a pointing device ----- a mouse, touch pad, etc.