Finman is the IOS version of the very popular Windows program of the same name, provided by Trimar and used by hundreds of accounting firms and businesses around Australia.
The IOS version of Finman will run on iPhones and iPads and enables loan details to be calculated for the following types of loan:
- Lease Agreements
- Hire Purchase Agreements
- Compound Interest Loans (eg Home loan)
- Simple Interest Loans
Finman will calculate the unknown variable (usually Interest rate) amongst the following items - Principal Amount, Interest Rate, Number of Loan Payments, Periodic Instalment or Residual Amount. A Balloon amount can also be included in the calculation.
Finman produces a payment by payment report showing the break up of each payment into interest amount, principal amount etc. Annual sub totals are also shown. This report can be copied to the Clip Board for use in other apps, emailed or printed..
If applicable, Finman can show the GST (Australian goods and services tax) component of each payment. If the asset being purchased is a motor vehicle, Finman takes into account the Luxury Limit and private use percentage.