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'Loan Interest Calculations' has been merged into this idea

For small businesses: Accounting features

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Bank Accounts - Set up loan schedule and amortization

I think we should be able to create with a loan schedule with interest rates, term and amortization instead of having to manually enter the transaction.

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Crystal Henrickson shared this idea  ·   ·  Report…  ·  Admin →
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  • Kyle Chirpich commented  ·   ·  Report

    Its disappointing that xero continues to not support basic accounting functions. Quicken can handle loan schedules, and xero should be a step or two above a basic consumer accounting package. The link you provided in your 7/17/25 update does not cover interest rates, term, or amortization.

  • Denym Bird commented  ·   ·  Report

    Hi Simon, you can do this with Paidnice a Xero app on the app store specialised in late charges and interest calculations (annualised interest, charged and sent to the client monthly) https://www.paidnice.com/late-fees

  • Simon Reid commented  ·   ·  Report

    Loan Interest

    Xero should have a built in daily interest rate calculator/application on both inward and outward loans with a global setting and an ability to vary on individual accounts. It would be ideal if the system just automatically uploaded changed balances on a daily basis with the ability to actually invoice it either automatically at monthend or manually during the month.

  • Brandy Davidson commented  ·   ·  Report

    Able to automatically have interest calculated based on the company's rates, and an invoice for said interest created.

  • Rhoda Chinnarajulu commented  ·   ·  Report

    This idea is perfect, it should be setup for the non-current liability loan accounts.

  • Kyle Chirpich commented  ·   ·  Report

    Kelly Munro, the link you shared has zero information on how to enter interest, terms, opening balance, etc as requested by the OP. Xero is missing what appears to be a very basic function for loan management.

  • Mark Sydney commented  ·   ·  Report

    would be VERY helpful to have simple loan term auto calculation

  • Jason Krueger commented  ·   ·  Report

    This is functionality that QB has had for at least a decade, having to create every single payment individually with the principle and interest off an external amortization table is terrible.

  • Johan Potgieter commented  ·   ·  Report

    I would consider this function to form part of Bank rules ideally
    Submitting a amortisation schedule linked to the fixed amount coming of the bank to do the automatic interest and capital split

  • Jason Peters commented  ·   ·  Report

    Ability to manage our loans in Xero. We should have the option to enter the interest %, term, opening balance, simple/compound interest and repayment period (monthly, annually, end of term etc.)