How are covenant certificates made?

Margin makes one for each month a loan's covenants are tested, as soon as you lock the month on Books → Close: every month for a monthly covenant, and June, September, December and March for a quarterly one. They start from the loan's Certificates from month and go back at most 12 months. Each is a draft until someone approves it.

Under Covenant certificates on the loan's page, click a month to open it. Each covenant has its period, its threshold, the figure, the headroom and its status. Click Workings under it to see how it was worked out, with the accounts and amounts behind it. The line beside the month sums it up, such as "5 covenants: 1 close and 1 breached", or "all met".

Margin works the certificates out again when you save the loan's covenants or its Facility card (drafts only), and when you lock a month (that month's and every later one's, approved ones too). An approved certificate whose figures change goes back to a draft, and says so: "The figures changed on …, after it was approved. Check it and approve it again; Galley keeps the earlier one until you do." Every hour, Margin also makes any certificate that should be there and isn't.

Download draft (Excel), or Download (Excel) once it's approved, gives you the certificate as a spreadsheet.