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Slide notes: The Loans System allows for Loans in linked Currencies, and processing for Foreign Currency Loans are just the same as for Local Currency Loans.

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Slide notes: The requirement for opening a New Loan in a linked Currency is that there should be at least 1 Loan Control Account in the selected Currency, because a Loan is always connected to the 'parent Control Account', and this Account must be for the same Currency as the one selected for the Loan.

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Slide notes: When we select the Currency for a new Loan, the system will check which Loan Control

Accounts are available.

If there is only 1 for the selected Currency, then that Loan Control Account is

automatically used. If there should be multiple options, then you will be prompted to

select the Control Account of choice.

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Slide notes: Note that this new Loan Account is for USD.

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Slide notes: When we perform any Loan Transactions, the system will automatically sense when we are dealing with a Linked Currency as opposed to Local Currency.

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Slide notes: Note that this Transaction is now automatically denominated in USD, and all amounts processed are in USD.

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Slide notes: The report options will automatically provide Local and Foreign Currency options when Forex Loans are sensed.

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Slide notes: And of course there is a Gain / Loss Report to reveal the Exchange position on Forex Loans, which are, of course, Balance Sheet accounts.

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Slide notes: Automatic Gain / Loss adjustment can be performed as for Ledger, Creditors and Debtors, at the Currency Management options found in Accounting Controls, and this is an 'on demand' option to be applied when you choose to.

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Slide notes: Here we can auto adjust gain / loss for Loans, either separately, or together with the other options. This is usually an end of month procedure.

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Slide notes: And so we see that Forex Loans are easy to process, in fact it is done transparently, just like Local Currency Loans.