How do I add / record a new loan received by the charity?
This article is for churches and charities that account on an accruals basis.
For charities that account on a receipts and payments basis (cash basis), see this help guide article on loans.
Your organisation's active or closed loans and mortgages are shown on the Loans Screen.
When you receive funds from a new loan or mortgage, you record this through the Bank matching screen.
When bank matching, where money has been deposited into your bank account from a loan provider, to record this:
- click on the bank transaction in the left-hand table on the bank matching screen
- click on 'Transaction Type' and select 'Loan Received'.
You then either:
- allocate this income as additional funds from an existing loan (select loan from the drop-down), or
- funds from an entirely new loan (by selecting 'Add Loan').
When adding a new loan you need to:
- choose a name for the loan
- specify which 'fund' the money from the loan (and the loan liability) will be allocated to. You can only specify a single fund for this purpose.
The record of loans will then be updated on the Loans screen.
