Create, modify and delete a loan/mortgage

To add a loan/mortgage, you have two options:

• Go to the Finances section, click Loans/Mortgages, then click Import a Loan to import a payment schedule.
• Go to the Finances section and create a new recurring expense of type Loan (with automatic schedule calculation), or import a payment schedule.

Create a loan with a recurring “Loan” expense

If you choose to create a recurring expense of type Loan, you can use the automatic payment schedule calculation. To do this, you will need to provide:

1. The start date and end date,
2. The total amount,
3. The interest rate,
4. The insurance rate (if applicable).

A button will allow you to preview the payment schedule before validating this expense.

If the schedule does not meet your expectations, the only solution is to import a schedule from the Loans/Mortgages section.

Import a loan from the “Loans/Mortgages” section

To import a loan, you can upload a file containing your payment schedule in Excel or OpenOffice format from the Loans/Mortgages page, using our templates:

• Excel template
• OpenOffice template

You can use these files to calculate your payment schedule. Once the calculation is done, export the import template (available in the first sheet, named “Import Template”).

• Mortgage calculator (Excel)
• Mortgage calculator (OpenOffice)

Modify or stop a loan/mortgage

Loan created as a recurring expense

To change the instalment amount, locate and edit the last generated payment. This change will be applied to all future instalments. Payments already generated must be edited manually, one by one, if needed.

To end a loan, locate and edit the last generated payment, then click the Actions on the right and select Stop. This action is only available for the last generated instalment.

Loan imported via the “Loans/Mortgages” section

To change an imported loan, you must first delete it, then import an updated payment schedule. Individual instalments cannot be edited.

Imported loans can be deleted or stopped from the Loans/Mortgages section. Filter the relevant loan(s), then use the Actions at the bottom of the page.

Delete a loan/mortgage

You can delete imported loans from the Loans/Mortgages section (filter the loan, then use the actions at the bottom) or from the Finances section.

Loans created from the Finances section must be deleted from that same section.

Use the filters to display only the loan, select all rows, then delete them using the Delete action at the bottom of the table.

To delete an imported loan from the Loans/Mortgages section, filter to display only that loan, then use the Delete button at the bottom of the table.

Loan renegotiation

To record a loan renegotiation, you need to stop the current loan and create a new loan.

We recommend importing payment schedules using the templates provided on the Loans/Mortgages page.

For the previous loan, you can export it, edit the export file by removing unnecessary instalments, save the file, then re-import it.

Before re-importing the modified file, make sure you have deleted the old loan in Rentila.