Equipment finance
Build finance schedules that stay up to date
Set up regular or irregular repayments. AccountKit splits principal and interest, then posts interest journals to Xero.
Included in the base subscription
What goes wrong today
A spreadsheet for every agreement
Each chattel mortgage is rebuilt from the lender’s contract, and the interest split goes into Xero once a year as a catch-up journal.
Seasonal repayments break the template
An agreement with larger repayments at harvest or a skipped quarter doesn’t fit the level-payment workbook, so someone rebuilds it by hand.
Nobody can say what’s committed
When the bank wants financials quickly, the next three years of repayments have to be added up agreement by agreement.
A schedule, row by row
Build a schedule and see the commitments it creates
Each repayment splits into interest and principal until the balance closes at zero. Switch to an irregular schedule and the commitments by financial year change with it.
Equipment financeInteractive preview · sample dataIllustrative example
- Client
- Sample Pty Ltd
- Agreement
- Chattel mortgage, excavator
- Amount financed
- $96,000.00
- Rate
- 7.95% a year, quarterly
- First repayment
- 31 Mar 2027
| No. | Due | Repayment | Interest | Principal | Balance |
|---|---|---|---|---|---|
| 1 | 31 Mar 2027Mar 2027 | 9,070.75 | 1,908.00 | 7,162.75 | 88,837.25 |
| 2 | 30 Jun 2027Jun 2027 | 9,070.75 | 1,765.64 | 7,305.11 | 81,532.14 |
| 3 | 30 Sep 2027Sep 2027 | 9,070.75 | 1,620.45 | 7,450.30 | 74,081.84 |
| 4 | 31 Dec 2027Dec 2027 | 9,070.75 | 1,472.38 | 7,598.37 | 66,483.47 |
| 5 | 31 Mar 2028Mar 2028 | 9,070.75 | 1,321.36 | 7,749.39 | 58,734.08 |
| 6 | 30 Jun 2028Jun 2028 | 9,070.75 | 1,167.34 | 7,903.41 | 50,830.67 |
| 7 | 30 Sep 2028Sep 2028 | 9,070.75 | 1,010.26 | 8,060.49 | 42,770.18 |
| 8 | 31 Dec 2028Dec 2028 | 9,070.75 | 850.06 | 8,220.69 | 34,549.49 |
| 9 | 31 Mar 2029Mar 2029 | 9,070.75 | 686.67 | 8,384.08 | 26,165.41 |
| 10 | 30 Jun 2029Jun 2029 | 9,070.75 | 520.04 | 8,550.71 | 17,614.70 |
| 11 | 30 Sep 2029Sep 2029 | 9,070.75 | 350.09 | 8,720.66 | 8,894.04 |
| 12 | 31 Dec 2029Dec 2029 | 9,070.81 | 176.77 | 8,894.04 | 0.00 |
| Total | 108,849.06 | 12,849.06 | 96,000.00 |
| No. | Due | Repayment | Interest | Principal | Balance |
|---|---|---|---|---|---|
| 1 | 31 Mar 2027Mar 2027 | 13,473.57 | 1,908.00 | 11,565.57 | 84,434.43 |
| 2 | 30 Jun 2027Jun 2027 | 13,473.57 | 1,678.13 | 11,795.44 | 72,638.99 |
| 3 | 30 Sep 2027Sep 2027 | 4,491.19 | 1,443.70 | 3,047.49 | 69,591.50 |
| 4 | 31 Dec 2027Dec 2027 | 4,491.19 | 1,383.13 | 3,108.06 | 66,483.44 |
| 5 | 31 Mar 2028Mar 2028 | 13,473.57 | 1,321.36 | 12,152.21 | 54,331.23 |
| 6 | 30 Jun 2028Jun 2028 | 13,473.57 | 1,079.83 | 12,393.74 | 41,937.49 |
| 7 | 30 Sep 2028Sep 2028 | 4,491.19 | 833.51 | 3,657.68 | 38,279.81 |
| 8 | 31 Dec 2028Dec 2028 | 4,491.19 | 760.81 | 3,730.38 | 34,549.43 |
| 9 | 31 Mar 2029Mar 2029 | 13,473.57 | 686.67 | 12,786.90 | 21,762.53 |
| 10 | 30 Jun 2029Jun 2029 | 13,473.57 | 432.53 | 13,041.04 | 8,721.49 |
| 11 | 30 Sep 2029Sep 2029 | 4,491.19 | 173.34 | 4,317.85 | 4,403.64 |
| 12 | 31 Dec 2029Dec 2029 | 4,491.16 | 87.52 | 4,403.64 | 0.00 |
| Total | 107,788.53 | 11,788.53 | 96,000.00 |
- Principal
- Interest
- Total interest
- $12,849.06
- Total repayments
- $108,849.06
Interactive demonstration with sample data, based on the AccountKit interface.
Who it’s for
Built for practices whose clients finance their equipment
Practices with clients who finance vehicles, plant or equipment across several agreements, such as builders, transport operators, farmers and medical practices. Firms that prepare management reports get the most from it.
How often it comes round
Every repayment, month by month or quarter by quarter, plus the year-end reconciliation and any time a lender asks for a cash flow forecast.
- Each repayment
- Interest and principal are split and posted.
- Month end
- The loan account reconciles to the schedule.
- On request
- The cash flow commitments report shows what’s due.
Posts to Xero
The interest journals push straight to Xero
Each repayment’s interest leaves the schedule as a journal, so the finance liability in Xero matches the lender’s statement through the year.
Journal previewInteractive preview · sample data| Account | Debit | Credit |
|---|---|---|
| Interest expense | 1,908.00 | |
| Chattel mortgage, excavator | 1,908.00 | |
| Total | 1,908.00 | 1,908.00 |
Interactive demonstration with sample data, based on the AccountKit interface.
Xero · Sample Pty Ltd
Manual journal, 31 Mar 2027
Posted
Illustrative journal with sample entities. Account names are examples.
Related tools
Tools that sit beside this one
- Compliance
Division 7A tool
Interest and minimum yearly repayments calculated across every loan, with a forecast for dividend planning.Scrub the loan schedule - Compliance
Inter-entity loan tool
Entries matched between entities across the group, with the unreconciled balance journalled.Watch the ledgers match
Also in the toolkit
- Amortisation schedulerBuild one schedule for a prepayment or other income or expense and apportion it across the year.
- Flexible loan calculatorSolve for any one loan variable, then build a schedule from the answer.
The heart of your firm
Put your clients’ finance agreements in one place
Start a free 14-day trial and build a schedule from a real agreement, or book a demo to see it with the team.
