Managing loans receivable

Set up an agreement, review imported receipts and keep principal, interest and payment confirmations straight.

Loans reads saved records for the signed-in household. Example loans appear only in the separate review mockup, not in your financial register. An empty register means no managed loans have been configured; a failed load shows an error and retry instead of example data.

Add or edit a loan

Use Loans → Add loan, or Assets → Add asset → Loans Receivable. Both open the same three-step panel, with the same shared Fieldwell controls. Assets → Edit opens that panel in place; Manage loan opens the associated loan detail.

Search Lender for an existing household member or company and select the result. Personal or business type is derived from that selection and verified by the server. You still need to supply the borrower, original capital, agreement dates and repayment terms. Confirm any applicable interest-withholding rate yourself; it is not inferred as a tax conclusion.

For a standard loan, choose scheduled monthly instalments or interest-free flexible repayments. A flexible loan has no required schedule and does not become overdue. EOT notes have separate daily simple-interest and available-cash views.

Prefill from a loan document

In either Add loan entry point, choose Have a loan document? Prefill with AI. Upload one loan outline, agreement, screenshot or spreadsheet as PDF, supported image, CSV or Excel .xlsx (maximum 25 MB). Export Word documents to PDF first. Spreadsheets are checked in Fieldwell first: choose one visible worksheet, review warnings and select Use selected sheet with AI. Only that sheet is sent to Perplexity. See spreadsheet upload guidance for formula handling, privacy and limits. Documents are not retained in your document library.

After extraction, inspect the missing fields and warnings, then choose Use extracted details. Loan name, parties, original principal, annual rate, dates, monthly term, contact details, notes, cash source and an explicitly stated interest-withholding percentage can be prefilled. Lender is selected only when its name uniquely matches an existing owner or company; lender type comes from that record, never a guessed AI identity.

Fields you changed manually, and dependent calculation/party settings, are preserved. Missing fields retain the form's existing defaults or entries and are listed as unconfirmed, not treated as document facts. An explicit zero rate is retained; an absent tax rate is not inferred from tax rules. Inspect Details and Loan terms, then confirm the document review on the Review tab before Save loan.

Uploading and applying extracted fields create no financial records. You can cancel reading, retry a failed upload or enter the terms manually. Wrong-category, multiple-loan and non-GBP documents are rejected. Recognised unsupported schedules or interest calculations cannot be applied. AI can make mistakes: check that the actual agreement matches the displayed calculation basis.

This agreement prefill does not import repayment history or opening balance adjustments, and uploading is not evidence that R185 tax has been paid. It is for adding loans, not overwriting an existing managed agreement. Use the separate history import below after saving the terms.

Numeric fields can be cleared while editing. Leaving a numeric field blank normalises it to zero when you leave it; required positive principal and term fields still fail validation. Enter zero explicitly when an agreement is interest-free.

Import payments already made

For an older loan, enter its original capital, start date and terms first, then save. Open Schedule → Upload payments with AI or Repayments → Upload payments with AI (including EOT and flexible loans). Upload a history of actual payments as PDF, supported image, CSV or Excel .xlsx, up to 25 MB and 200 payment rows. Choose and confirm a visible sheet for spreadsheets before extraction. Perplexity Sonar Pro extracts a draft only; the selected data is temporarily shared for extraction, not saved in your document library.

The review panel shows actual receipt date, scheduled due date, principal, gross interest, tax withheld, net cash and reference. Missing figures remain blank, not assumed zero. Planned or uncertain payments and recognised duplicates are initially excluded. Check party names and GBP currency, correct or exclude rows, and explicitly confirm that selected payments were actually made. A scheduled instalment is suggested only when documented amounts match one unpaid instalment uniquely; otherwise you must identify its original due date.

The preview shows selected cash, tax and the effect on outstanding principal. Confirm the review and choose Import payments. All selected receipts save in one transaction or none do; a retry of the same submission is safe. Saved history updates the working schedule, linked asset and net worth, without also crediting a bank account. Principal and gross interest remain separate from R185 withholding; no tax certificate or HMRC payment is inferred.

Duplicate dates and amounts are blocked for separate review. Partial or combined instalments, historical extra-capital revisions and entries earlier than existing saved receipts require separate reconciliation. Do not alter source amounts to force a match. Truncated, multiple-loan and non-GBP documents are rejected. Importing payment history is not an opening-balance adjustment and does not bypass the matching-balance checks on historical unlinked assets.

One agreement, one asset

Saving a new loan automatically creates one linked asset; there is no asset selector in Add loan. Saving edits from either page updates that same agreement and asset, rather than creating a second asset.

For standard loans, asset value is outstanding principal; future scheduled interest is not added to wealth. For EOT notes, value includes outstanding principal and accrued unpaid gross interest under the agreement's actual/365, non-compounding model. Accrual stops when principal is cleared.

Company-owned loan values feed the company's tracked-assets valuation and retain its balancing figure. The household net-worth rollup counts each underlying account once and adds the tracked-company adjustment, rather than adding the full company total again.

Record a repayment

Open a loan and choose Record repayment. A complete scheduled instalment may be paid early: its original due date is retained and its actual receipt date is stored separately. Extra capital needs a reviewed schedule revision, either shortening the term or reducing future instalments. The original schedule is retained.

Principal reduces the linked asset. Gross interest, tax withheld and actual cash are recorded separately. Net cash is principal plus gross interest minus withholding; withholding never reduces principal. Holding an R185 certificate and confirmation of payment to HMRC are separate facts. A receipt alone is not proof of remittance.

Recording a receipt does not also credit a bank account. Bank sync or a separate cash reconciliation supplies the cash side, preventing the receipt from being counted twice. Until that cash update arrives, net worth can temporarily show the reduction in the loan without the corresponding increase in cash.

Save failures roll back the whole operation. Retrying the same submitted receipt cannot post it twice. If someone else has edited the loan, reload before posting a new receipt.

Send a payment confirmation

Enter the repayment and choose Continue to email review. This opens the second step of the side panel and does not save the payment yet. For a payment dated today, the draft appears automatically when email delivery, a borrower contact email and an approved lender reply contact are available. A single reply contact is preselected for review; choose from the household list if there are several. Review the recipient, Reply-To, amounts and wording. Changing the payment or email choices generates a fresh preview.

Choose Save repayment & send email to save the receipt and queue its confirmation together, or Save without email to record only the payment. Neither happens automatically. Back returns to the retained payment details. If sending is unavailable, the review step explains why; for a missing borrower email, cancel and add it through Edit loan before recording the payment. Historical imports and backdated payments stay silent; loan edits do not generate emails. Email failure does not undo a saved repayment.

Emails adapt to the loan type, including interest-free flexible loans, early payments, withholding and EOT notes. They distinguish capital from interest and net cash from tax withheld. An EOT note with capital repaid but unpaid accrued interest is not described as fully settled.

The Fieldwell footer is included automatically, with no extra checkbox. Existing recipient opt-outs are respected; the preview explains when the service-only version will be sent. Its homepage link and separate promotional unsubscribe do not affect essential payment confirmations. Emails come from Fieldwell's no-reply address, with replies directed to your chosen lender contact.

Repayments → Payment email activity shows queued, sending, accepted or review-required status. Accepted means the email provider accepted the message, not that it reached an inbox. If delivery needs review, ask an administrator to check the provider log. Do not record the repayment again or create another payment to resend an email.

Existing records

Older loan assets and agreements are preserved and identified for reconciliation separately from Add loan. If an unlinked asset exists, Loans → Existing records need reconciliation → Reconcile existing loan opens that specific asset. Assets → Edit on that historical loan also opens the same reconciliation panel. Its asset identity and lender are fixed, not selectable. If no historical records exist, the reconciliation section is not shown.

Linking requires a matching owner and calculated current balance. Original terms and repayment history cannot be reconstructed from a balance alone, so records with earlier repayments need a deliberate reconciliation/import rather than guessed transactions. Historical agreements without an associated asset remain identified for separate review, not automatically converted.

Current boundaries

This release supports GBP receivables, one complete instalment at a time, extra capital, interest-free flexible receipts and EOT principal-first receipts. It rejects overpayments, unsupported allocations and backdated entries preceding the latest saved receipt. After a receipt, financial terms and parties are locked; contact details, name and notes remain editable.

Receipt reversal/correction, partial or combined instalments, effective-dated rate changes, payable loans, bank matching, document storage/generation and R185/CT61 filing remain future work. Evidence checkboxes record your confirmation, not an uploaded file. Internal household/company borrowing does not automatically create a matching payable: reconcile that liability separately when determining consolidated wealth. The app does not establish eligibility for any EOT tax relief.