Loan Processing allows you to manage the loans your organization provides to other organizations and individuals.
Note: The use of levels (such as funds and departments) is optional in the design of each chart of accounts. If the chart of accounts you are working with does not use levels then you would simply skip over information about these fields in the documentation.
Features and Benefits:
•Provision for various types of loans:conventional, balloon, and interest only
•Management of loans to churches and individuals
•Tracking for typical loan values and information: inception date, loan number, number of payments per year, loan amount, rate of interest, down payment, etc.
•Production of amortization report per loan
•Word processing file for payment booklets
•Trial balance and other loan evaluation schedules
•Real-time loan status at any time during the life of the loan
Refer to the Dashboard page for information about the widgets that display on the dashboard for each application.