Guide 05

Automatic posting

Automatic posting posts each month's interest for you, on the day you choose, and tells you what it did. It makes exactly the same checks as the Post page.

Switching it on

  1. Open Organisations. Automatic posting is set for each organisation.
  2. On the organisation, next to Automatic posting, choose Set up.
  3. Switch it on and choose the day of the month to run, from the 1st to the 28th.
  4. Choose Post as: drafts you approve in Xero, drafts approved automatically after a few days, or approved journals written straight into the books.
  5. Add the email addresses that should get the summary, confirm you understand that Loanbooq will post on its own, and save.

What happens each month

Early in the morning on the day you chose, Loanbooq posts the interest for the month that has just ended, for every loan in the organisation that is ready. If an earlier month since you switched automatic posting on is still unposted (a run was missed, or you voided its journals), that month is posted too, in the same post. It then leaves a notification on the bell and emails a summary listing what was posted, what was skipped, and why.

To post the month that has just ended straight away, choose Run now. It does exactly what the monthly run would.

Drafts approved after a few days

With this choice, the month goes to Xero as drafts first. After the number of days you set, Loanbooq approves the drafts that are still waiting. If you delete a draft in Xero before then, Loanbooq takes that as a stop: it approves nothing for that loan and marks the post as voided. You get a notification and an email either way.

Loans it skips

A loan is skipped, with the reason in the summary, when it could not be posted from the Post page either. For example, a month from before you switched automatic posting on is unposted, the loan has no interest account, the month is already posted, or posting would take it over its limit. Put it right and post it from the Post page, or let the next run pick it up.

If the organisation's connection to Xero has lapsed, nothing is posted until you reconnect it. See When a connection lapses.

Switching it off

Open Set up again and switch it off. Nothing already posted is changed.

Something not working as described? Email hello@loanbooq.com with the organisation, the loan and what you expected to see.