How to add your Financing in Modeliks?

In this article, we will guide you through the process of adding and managing financing, liabilities, and equity on Modeliks.

To begin, navigate to the Modeliks platform and locate the "Add Financing" button. Clicking on this button will show the available options to record your financials.

Choose the appropriate financing type that best fits your needs from the available options 👇

• Loan 

• Line of Credit

• Other Liabilities

• Shareholder's Equity

• Dividends 

Adding Liabilities 

Loan

Click on the "Add Financing" button. Choose the Loan financing type. Enter a name for the loan, such as "Bank Loan" ✅

Select the starting date when you plan to obtain the loan. Enter the loan amount. Specify the Loan term in months, indicating the duration for repayment. Enter the annual Interest rate ✅

If applicable, enter the number of months for a Grace period (usually set to zero). Select the Payback frequency (monthly, quarterly, semi-annually, or annually).

If you plan to make Extra payments to pay off the loan faster, you can record that as well by clicking "Yes". In general, companies pay off the loan within the agreed period. Click "Next" to view the loan calculation, including the decreasing balance over time ✔️

 

Line of Credit

Choose the Line of Credit type and name it, for our case we chose the same title. Enter the annual interest rate agreed upon with your bank.

 

Withdrawals

Next, you need to enter how much money you plan to withdraw from your line of credit and in which period - this is the money you borrow from the bank.

Let’s say we will borrow $10,000 in the first month, then $20,000 thousand in the last month of the first year, and 30 thousand in the second year ✅

 

Repayments

In the next section, you need to enter the amounts you plan to repay to the banks,

Let’s say we will pay back 20 thousand in the third year and 30 thousand in the fourth year. Click "Save & Close" and your line of credit calculation is done ✅

You can see the balance that you owe to the bank every month and year and how it reduces as you keep paying off the line of credit.

 

Other Liability

Enter the necessary details for the other liability, such as name, type (current or long-term), and the applicable interest rate ✅

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Shareholders' Equity

Click the Shareholders' Equity type. Name the financing entry as "Equity Investment" and click next.

Now, enter the value of the money you plan to invest in your business and the respective periods.

Let’s say we will invest 100 thousand in the first month ✅ Click "Save & Close" and your calculation is done.

 

Dividends

Choose the Dividends type and name it as you wish, for our case, let's name it "Dividends paid" and click next.

On the input screen, enter the value of the dividends that you plan to pay to your shareholders. We will pay $100,000 in year 2 and year 3 ✅ Click "Save & Close" and your dividend payments will be calculated.

📝 Edit your numbers

Keep in mind that blue-colored numbers are editable right at spot, black numbers are calculations and the arrow option allows you to paste the value to the end.

Alternatively, you can click on the edit icon that appears when you hover over the financials' name to make changes.

 

That's it❣️For a more in-depth explanation of how to add your financing data in Modeliks, be sure to check out the helpful video tutorial.