This article is part 2 of the system introduction provided to you when you receive your login credentials for Nordkap.
Where should you start to easily learn Nordkap?
To give you a clear and straightforward overview, especially during the system introduction, we want to first focus on the two most central parts of Nordkap.
- The Positions Module – This is where you input and manage your debts and financial instruments in Nordkap.
- The Reports Module – Always easily accessible and designed to simplify your daily work and reporting. However, the information you receive in the reports depends on your positions.
There are several other important parts of Nordkap, such as the Properties Module, Bank Account Module, Accounting Module and Market Module.
However, in this introduction, we focus on Positions and Reports because we believe these modules are the key to building a solid foundation for understanding how Nordkap works.
The Positions Module – What Is It?
The positions in Nordkap represent the data you enter into the system related to your debt portfolio and financial instruments.
A position, for example, could be a loan you have registered. For each loan, you specify details such as the borrower and lender, the loan amount, the effective dates and other terms and settings necessary for Nordkap to perform accurate calculations.
The required information may vary depending on the type of position being registered. Since the terms and settings can differ from one bank to another, we always recommend having the relevant documentation, such as the agreement, promissory note, terms appendix, or other related documents on hand when registering a position.
Important Information About Positions...
-
Positions in Nordkap are organized in Portfolios
Create your portfolios under Administration before registering a position.
For example, you might create a portfolio called "External Debt" where you include all external debt, making it easy to generate reports that provide the insights you need. -
The term “Counterparty” in Nordkap usually refers to the lender
For internal loans, you can create and manage internal counterparties under Administration.
If you can’t select the correct external counterparty (the bank that issued the loan), contact us at support@nordkap.se and we’ll assist you! -
When a position is registered, Nordkap automatically creates Events for It
These events, together with the terms and settings you specified when registering the position, determine how much you need to pay, when to pay, and at what interest rate.
To verify that the events are correct, or to make necessary adjustments, we recommend comparing Nordkap’s calculations to at least two payment notices from the bank. -
Quickly add multiple new positions using the import function
The Import feature is available under Administration. A template for the required data is available in our Help Center.
Need assistance? Contact us at support@nordkap.se — we understand that this function can be a bit tricky to use! -
Don’t forget the Clone Feature for efficient position management
Once you’ve started using Nordkap regularly, you can clone loans to streamline the process.
Explore our Help Center to learn how to create templates for cloning based on your various counterparties.
What Is Your Responsibility as a User Regarding Positions?
As a user, or at least one of the users in your organization, you hold significant responsibility for ensuring that positions are registered and adjusted correctly.
The calculations used in reports, accounting, and other parts of the system rely on the data registered for each position.
The payments calculated by the system are based on the terms, settings, and payment structure defined for the position.
Once a position is registered, review its Events to ensure that the payments align with the documentation provided by your bank (e.g., payment notices).
If a position in Nordkap does not match the bank's documentation, it is your responsibility as a user to adjust the settings or make corrections to ensure accuracy.
We have many articles in the Help Center and have also hosted webinars, which are available to highlight what we believe can help you ensure your positions are accurate in Nordkap.