How do we put in loans for churches that we give and then post payment when recieved?
I have it where i go into conributions then i apply to fund account of what is paid in principal which is apply t0 04- church loan fund checking account 04-1110 by debiting and crediting account 04-444 which is the church who has the loan out and for interest i debit 04- 1110 checking loans and credit 04-4407 which is the church who has the loan out interest account, then i also post undering church reduction debiting 04- 3444 church revolving loan prinicpal balance of church that owes the loan and crediting 04-3439 church extension revolving loan
How do i get it to print statemetn in powerchurch what they paid and wht thier balance is like when i go to pring their their pledge statements it shows outstanding balance how can i get the loans to do the same. For each individual church
Loans
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Re: Loans
Um ... you're making it do something it was never designed for. Contributions was intended for 'contributions' not for loan payments. I would think that Accounts Receivable would be a better module to use for this has it can issue invoices, and give statements as to amount paid, remaining balance, etc.bking403 wrote: ↑Fri Aug 28, 2020 8:55 amHow do we put in loans for churches that we give and then post payment when recieved?
I have it where i go into conributions then i apply to fund account of what is paid in principal which is apply t0 04- church loan fund checking account 04-1110 by debiting and crediting account 04-444 which is the church who has the loan out and for interest i debit 04- 1110 checking loans and credit 04-4407 which is the church who has the loan out interest account, then i also post undering church reduction debiting 04- 3444 church revolving loan prinicpal balance of church that owes the loan and crediting 04-3439 church extension revolving loan
How do i get it to print statemetn in powerchurch what they paid and wht thier balance is like when i go to pring their their pledge statements it shows outstanding balance how can i get the loans to do the same. For each individual church
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
Re: Loans
I'm assuming that the amortization is calculated prior and entered as part of the loan amount? If so yes, you can do that, you can also be able to add on late fees much easier.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.