This video will walk through all of the steps required to add debt positions to your Project from creating a Debt Class to issuing Promissory Notes. Detailed written instructions can be found below.

Step 1: Create a Debt Class

From within the relevant Project, select the Classes tab.

Select the New button to create a new class.

Add any name and select Debt under Class Type.

Step 2: Add a new Position

From the Positions tab, select New Position.

Select the relevant Account and click Create Position. Note: if the Account does not appear in the drop-down, it already has a Position in the Project and this step can be skipped.

Click on the newly added Position. Note: searching in the Account column will help find the relevant account.

Step 3: Add a Promissory Note

From within the Position, click on New Transaction and select Promissory Note.

Step 4: Complete Promissory Note Details

Complete the Main Properties from the first page presented.

  • Date: The inception (start) date of the debt.

  • Debt Class: Select the newly added Debt class

  • Amount: Enter the amount of principal.

  • Interest Rate: Specify the percentage interest rate.

  • Term: Select between three options for the term of the note: Maturity Date (specific date), Term (number of months), or Indefinite (ongoing).

  • Rounding method: specify the rounding method to be used.

Click on Accrual and Compounding and select between Day Count Basis, Amortization Schedule (I/O), and Flat Rate to define the accrual method, which will prompt you to complete the final details. Once complete, select Create Promissory Note.

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