The Loan Automation will work through a series of steps to xxx

Note: The Loan Automation is designed to work with either the 'H11 Chattels Mortgage Schedule' or 'H25 Bank Loans' worksheet, depending on your loan type. The Automation will still run without a supporting worksheet, but in that case, you will have to add your expected balances manually. Therefore, we recommend inserting and completing the relevant worksheet first.

Begin by selecting Run on the Loan Automation of the relevant loan account. If there are multiple accounts associated with the same loan, the Automation will aim to detect those, so it doesn't matter which of the accounts you choose.

In an ideal world, the Loan Automation will run through all its steps and complete the required journals to reconcile your account balances without any intervention. However, let's take a look at the steps one by one to gain a better understanding of what is happening.

Step 1 -