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Loans

Adding a Loan

Add loans to Officaid and keep your borrowing organised in one place.

Get Your Business Loans on Record

Adding a loan to Officaid takes just a few moments. Once recorded, you can track repayments, monitor your balance, and keep a clear history of every loan your business has taken out.

Before You Begin

Make sure you have the following ready:

  • The principal amount (the total amount borrowed, not including interest)
  • The lender name (the bank or institution that provided the loan)
  • A payment account set up in Officaid to link to this loan
Need to set up an account first? See Adding a Bank, Credit Card, or Cash Account.
If your loan is in a foreign currency, make sure you have an account set up in that currency. See Multi-Currency Accounts for guidance.

Step-by-Step Guide

  1. 1 Navigate to Finance → Loans from the main menu
  2. 2 Click the + Add New Loan button in the top right corner
  3. 3 Fill in the loan details (see field explanations below)
  4. 4 Click Add Loan to save

Your loan will appear on the Loans dashboard with an Active status, ready for you to start recording repayments.

Understanding the Loan Fields

Here's what each field means when adding a loan:

  1. Reference is your own identifier for the loan. Use something descriptive like "Working Capital Loan" or "Equipment Financing 2025" to help you find it later.
  2. Lender is the name of the bank, institution, or individual that provided the loan.
  3. Principal is the total amount borrowed. Enter the original loan amount, not including any interest.
  4. Currency defaults to your company's base currency. Change this if the loan is in a different currency.
  5. Date is when the loan was received. This defaults to today but can be changed to reflect the actual loan date.
  6. Account links the loan to one of your payment accounts. Select the account where the loan funds were deposited.
  7. Notes is an optional field for any additional details, such as the loan term or repayment schedule.

Frequently Asked Questions

Yes. Set the Date field to when the loan originally started. After adding the loan, you can record past repayments to bring your balance up to date. The remaining balance will reflect what you currently owe.

Choose the account where the loan funds were deposited, or the account you'll use to make repayments. If you're unsure, you can edit the loan later to change the linked account.

Yes. Open the loan from the dashboard and click Edit Loan to update any details including the reference, lender, principal amount, or linked account.

What's Next?

Now that your loan is recorded, you can:

loans finance getting started