Tract Bank Loans
Use this screen to keep up with any loan amounts that you have taken out against the selected Tract.
You can enter the Loan #, Bank Name (click the magnifying glass button next to the Bank column to select a bank name from a pop-up list), a short Description, Loan Origination Date (You can click the small calendar button to access a pop-up calendar to pick your date.), Loan Due Date (You can click the small calendar button to access a pop-up calendar to pick your date.), the Principal amount, and the Interest Rate percentage.
The large blank area below the grid is a comment field that you can use to enter up to 250 characters of text on any individual transaction. These comments will not appear on any report, but are to be used to provide internal notes. These comments are displayed as you click on each transaction in the list.
While the information entered on this screen is not directly posted to the Tract Expenses screen, it is helpful to enter Bank Loan information on this screen to keep up with Tract-To-Date principal and interest payments. The reason this information is not automatically posted to the Tract Expenses screen is because loans may or may not be directly related to specific tracts. This allows a great deal freedom in how you apply Interest Expense to different tracts.
If you choose to track a Loan on this screen, a good suggestion is to enter your original loan amount as a negative value to indicate the debt and then enter positive values for principal and interest payments in order to keep a running balance of your loan principal.