Savetime Calculator allows institutions to record and monitor institutional loans as part of their financial records.
The Institutional Loans section is intended for the institution owner. Employees do not manage institutional loans or loan repayments.
This keeps loan information and related financial decisions under the owner’s control.
After logging into your institutional account, go to:
Client Accounts → Institutional Finances → Institutional Loans
The Institutional Loans section is used to record and manage the institution’s loan information.
When an institution begins using Savetime, it may already have an outstanding loan.
For example, a school may have borrowed money before it started using Savetime and still have part of the loan outstanding.
The existing loan can be included when setting up the institution’s financial position.
This allows the institution’s financial records to reflect the loan that already exists.
When the institution takes a new loan, the loan can be recorded in Institutional Loans.
The loan becomes part of the institution’s financial records and can be taken into account when reviewing its overall financial position.
For example, an institution may borrow money to purchase equipment, improve its premises, or meet another institutional need.
The important point is to record the loan accurately so that the institution’s financial position remains up to date.
When the institution makes a loan repayment, the repayment should be recorded so that the outstanding loan position can be kept accurate.
A loan repayment may contain two parts:
These two parts should be treated differently in the institution’s financial records.
The principal reduces the outstanding loan.
Interest is an expense of the institution.
If a loan repayment includes interest, the interest portion can be recorded through the Institutional Expenses section.
For example, suppose an institution makes a loan repayment of 50,000 and:
The 40,000 principal portion relates to the loan itself, while the 10,000 interest portion is recorded as an institutional expense.
This keeps the loan balance and institutional expenses properly separated.
For more information about recording expenses, see Recording Institutional Expenses.
Loans affect an institution’s financial position.
An inaccurate loan balance can therefore affect the information shown in the institution’s financial reports.
Keep loan information up to date by recording:
This helps the Balance Sheet and other financial information reflect the institution’s recorded position more accurately.
Institutional loans are managed by the institution owner.
Employees do not manage institutional loans or loan repayments through their employee accounts.
This is important because loans are part of the institution’s financial and administrative records.
The owner can therefore maintain control over:
Employees can continue handling the institutional functions assigned to them without being responsible for loan management.
Suppose a school already has an outstanding loan of 200,000 when it starts using Savetime.
The school records the existing loan as part of its financial setup.
Later, the school makes a repayment of 30,000. If 25,000 is principal and 5,000 is interest:
The remaining loan balance can then be reflected in the institution’s financial records.
If the school later takes another loan, the new loan is also recorded under Institutional Loans.
Whenever the institution takes a new loan or makes a repayment, ensure that the relevant figures are recorded accurately.
This is particularly important because loan information forms part of the institution’s wider financial position.
The institution owner should also review the loan information periodically to ensure that the recorded figures remain correct.
Institutional Loans is an owner-controlled financial area.
Employees are not responsible for managing institutional loans or loan repayments. When a repayment includes interest, the interest portion can be recorded through Institutional Expenses.
Keeping loan principal and interest properly separated helps maintain clearer institutional financial records.