Guide 01
Getting started
Loanbooq connects to Xero, works out the interest on every loan you hold, and posts it to Xero as manual journals. This guide takes you from signing in to your first month-end.
What you need
- A Xero organisation with each loan kept in its own balance sheet account, whether it is money you lent out or money you borrowed.
- An interest account in the same chart of accounts: interest income for loans you made, interest expense for loans you received.
- A Xero login that can create manual journals in that organisation. If you are not sure yours can, ask whoever manages users in your Xero organisation.
Signing in
- Go to loanbooq.com/signin and choose Sign in with Xero. If you are already signed in to Xero in this browser, you may go straight through.
- Sign in on Xero's own page, then choose the organisations Loanbooq may use. You can add more later.
- Read and accept the terms. You only see them again when they change.
- The first time, complete a short profile with your company's details. You then land on the Dashboard.
Loanbooq never sees your Xero password. Xero asks you to approve the connection, and you can end it at any time, from Loanbooq or from Xero. Connecting and disconnecting Xero explains how.
Finding your way around
Everything you see belongs to the organisation chosen at the top of the screen. Change it there to work in another organisation.
| Page | What it is for |
|---|---|
| Dashboard | The whole loan book: balances, interest and limits, as a table or a chart. |
| Reports | Statements for one loan or all loans, with your own branding. |
| Post | Checking what interest is due and posting it to Xero. |
| Post History | Every post Loanbooq has made, with voids and corrections. |
| Repayments | Settlement figures, projections and recording a repayment. |
| Organisations | Your Xero connections, the reference rate and automatic posting. |
| Loan Profiles | Each loan's account, rate and interest settings. |
| Forecast | Where a loan is heading, month by month. |
The bell at the top collects notifications, such as the result of an automatic run or a change in the reference rate. Help opens short walkthrough videos of every page.
Your first month-end
- Add your loans on Loan Profiles, one at a time or from the Excel template. See Setting up loans.
- Open Post and set Post Up To to the last day of the month.
- Check the loans listed. Click a loan's name to see every journal it will post.
- Post as Draft the first time, so you can look at the journals in Xero before you approve them.
Once you are happy with the results, you can let Loanbooq do this every month. See Automatic posting.
Something not working as described?
Email hello@loanbooq.com with the organisation, the loan and what you expected to see.