Use this article to record a client's revolving credit mortgage in Trail and make sure their available cash flows through correctly to an application's Funding Details, whether the facility is partly drawn, fully undrawn, or holding extra funds.
In Trail you record a revolving credit mortgage with two key figures: the Facility Limit (the maximum the client can borrow) and the Amount Drawn (what they currently owe). The difference between the two is cash available to the client.
You can record the loan from the client's Position page, or directly in an active Application. Open one of the two before you start.
How do I record a revolving credit my client has drawn from?
When your client has drawn money from their revolving credit facility, Trail calculates their available cash as the Facility Limit minus the Amount Drawn. To record the loan:
Go to the Mortgages page under the Fact Find heading.
Add a new loan.
Set the Loan Type to Flexible (Revolving Credit). This shows a different set of fields from other loan types.
Fill in the mandatory fields: Facility Limit, Amount Drawn, Interest Rate, and Lender. Add any further details you have.
Check for the green tick in the top right corner of the mortgage item. The green tick confirms Trail has all the information it needs for this loan.
Then confirm the available cash has flowed through to the application:
Open the active application and go to the Funding Details page under Application in the sidebar.
Scroll down to the Cash and Equivalents heading.
Find Cash from Existing Loan Facility at the bottom of the options. The suggested amount shown next to the arrow should equal the Facility Limit minus the Amount Drawn you entered. In the example screenshot below, that comes to $70,000.
Click the blue arrow to confirm the suggested amount.
If the suggested amount doesn't appear, or shows the wrong figure, go back to the Mortgages page and check the Facility Limit and Amount Drawn on the loan. If the figure still looks wrong, email support@gettrail.com.
How do I record a revolving credit with nothing drawn?
When your client has a revolving credit facility but hasn't drawn any money from it, their available cash is the full Facility Limit. To record the loan:
Go to the Mortgages page under the Fact Find heading.
Add a new loan and set the Loan Type to Flexible (Revolving Credit).
Fill in the mandatory fields: Facility Limit, Amount Drawn (enter 0), Interest Rate, and Lender.
Check for the green tick in the top right corner of the mortgage item.
In the active application, open Funding Details and scroll to Cash and Equivalents. The suggested amount for Cash from Existing Loan Facility should be the full Facility Limit. Click the blue arrow to confirm it.
How do I record extra funds sitting in a revolving credit account?
Trail doesn't allow negative amounts on a loan, so a revolving credit facility can't show a surplus balance. That's why extra funds get recorded separately: when your client holds money in the account on top of the undrawn facility, the facility itself is recorded as normal and the extra funds are added as a separate asset so Trail still counts them.
Record the revolving credit mortgage on the Mortgages page as described in the sections above.
Go to Assets & Investments and add a new asset with the type Cash Funds.
Enter the value of the extra funds, and use the description to note that these are extra funds held on top of a revolving credit facility.
In the active application, open Funding Details and scroll to Cash and Equivalents. The extra funds should appear as a suggested amount. Click the blue arrow to confirm it.
Questions about revolving credit mortgages in Trail?
Get in touch at support@gettrail.com, or use the chat button in the bottom right of the screen.