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 in the Loans module.
When you receive funds from a new loan or mortgage, you record this through the Bank matching screen in the Bank Reconciliation module.
Once you have uploaded your bank transactions, on the bank matching screen:
- click on the loan repayment bank transaction in the left-hand table on the bank matching screen
- change the Transaction Type dropdown to select Loan Repayment
You then either:
- allocate this income as additional funds from an existing loan (select the loan from the drop-down list), 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. (If necessary, you can split the bank transaction and then allocate the two (or more) portions of this loan to different loans in different funds in ExpensePlus).
The record of loans will then be updated in the Loans module.
