-2.png?height=120&name=Modeliks%20Logo%20(blue%20modeliks%20right)-2.png)
With the help of Financing, you are able to add data for your liabilities, and equity & dividends which are crucial components in Modeliks.
When it comes to liabilities, on Modeliks you are able to record your Loans, Lines of Credit, and other liabilities.
Loan
A loan is a sum of money that companies borrow from banks or other financial institutions. It serves as financial assistance to support various business activities.
Loans come with the obligation to repay the borrowed amount along with interest within a specific period.
Line of Credit
A line of credit is a predetermined amount of money that a bank agrees to lend you. It acts as a flexible funding source that you can draw from whenever needed, up to the maximum approved limit.
🔎 Unlike a loan, you only pay interest on the amount you borrow, not the entire maximum amount.
Other Liability
Other liability can be any financial obligation that a company has which does not fall under the categories of loans, lines of credit, accounts payable, or taxes payable.
🔎 It can include contractual obligations, lease agreements, or other financial commitments.
🌟 Besides the stated liabilities, under Financing, you can record your Shareholders' Equity and Dividends data!
Shareholders' Equity
Represents the value of the assets or money that the owners invest in the company. It reflects the owners' ownership interest and their contribution towards the company's financial health.
Dividends
Are a share of the profits that a company distributes to its shareholders. They represent the financial return that shareholders receive based on their ownership of the company.
🔎 Dividends are typically paid out periodically, such as annually or quarterly.