Add your Loans, Leases, and Lines of Credit into Conservis to capture all your debt
services, which will pull through to financial reports and your Cash Flow Forecast.
To create Loans & Leases:
FINANCIALS > ORGANIZERS > Loans & Leases
Click New Loan button and select Term Loan or Lease
Enter the name & Reference # & Notes
Select Status = Active
Select Status = Inactive, if a piece of equipment was traded in and the loan is no longer relevant. All future planned payments will no longer appear on financial reports, based on the entered Inactivated Date.
Select (or create) Category. *Important to use Debt Service from the Category Section.
Select (or create) Creditor.
Loan Information:
Amortization Type (only applicable for Term Loans):
Principal & Interest: Variable payment plan where a borrower is able to pay higher payment amounts at their discretion.
Principal + Interest: Principal is divided into equal monthly amounts and the interest is calculated on the outstanding principal balance each month. (Also known as Equated Monthly Installments.)
Enter in the rest of Loan’s details and click Continue. Below are
tips on some of the data requested.
Payment: If you have the same payment amount each time,
enter in that payment amount, even though it is optional. By
doing this, your plans will be more accurate.
Payment Period: Select the month(s) that the payments are
due each year.
Annual Interest Rate (only applicable for Term Loans): This
amount is used to calculate your planned payment schedule.
First Crop Year: This is the first crop year that you want the
planned payment to appear. It is important that the right
crop years are represented in the calculated schedule since
it will impact reports and the cash flow forecast.
Click + Add Attachment to add any relevant loan documentation.
Review the schedule that was created for correct planned payment
dates, payment amount, and crop year. Adjust if needed, then click
Create.
If any edits are made after the schedule has been created, click the
link in this message: "Refresh to view updates"
Budget Assignments: Shows only after creation and if tied to
budget(s).
To create a Line of Credit (similar to Loans & Leases, but with a few key
differences in Conservis):
FINANCIALS > ORGANIZERS > Loans & Leases
Click New Loan button and select Line of Credit
Enter the name & Reference # & Notes
Select Status = Active
Select Status = Inactive, if a piece of equipment was traded in and the loan is no longer relevant. All future planned payments will no longer appear on financial reports, based on the entered Inactivated Date.
Select (or create) Category. *Important to use Debt Service from the Category Section.
Select (or create) Creditor.
Line of Credit Type:
Operating Line: A large line of credit to be used throughout the year for operating a farm.
Line of Credit: A smaller line of credit used for a specific purpose.
Examples: Purchase seed or building repairs.
Enter in the rest of Line of Credit’s details and click Continue. Below are tips on some of the data requested.
Projected Interest Rate: Enter an average interest rate, knowing this
can change.
Carryover Amount: The unpaid portion of your previous crop year’s
operating line that carries over to the current crop year. When the
schedule is created, this amount will be in the Total Draws (optional)
Projection Type:
Utilization: Enter the percentage of the loan you plan on using.
Manual: Enter in the planned Draws and Payments.
Advanced
Credit Type: Revolving or Non-Revolving (optional)
Click + Add Attachment to add any relevant documentation.
Review the schedule that was created for correct planned payment dates, payment amount, and crop year. Adjust if needed, then click Create.
Click Edit, if you want to update the planned interest rate, payments, or draws within the schedule - or - wait until your budget is complete and run the Cash Flow Forecast using this Operating Line. Based on your positive or negative Net Cash Flow, you can push suggested Draws and Payments back to your planned LOC schedule. [ FINANCIALS > FINANCIAL MANAGEMENT REPORTS > CASH FLOW FORECAST]
If any edits are made after the schedule has been created, click "Refresh to view updates"
Budget Assignments: Shows only after creation and if tied to budget(s).