[Question] Capturing Loans Receivable on Pastel Accounting

[PrestoLoans]

Good day
Hope you can assist.
We are a micro lending company, running specific lending software, but still want to capture transactions on Pastel Accounting for internal use.
I need to create ledger accounts for loans/administration fees/initiation fees and interest to bill to the customer.
Please assist with the correct capturing of these ledger accounts.
Kind Regards.
Elize

[TravisSinclair]

Hi - go to Edit, General Ledger, Accounts. I would suggest that you create a main account as a Balance Sheet (Accounts Receivable) account and then create sub-accounts for the different customers / loans. If you are charging the customer the administration fees/initiation fees and it's one of your main income sources, you should create those accounts as sales accounts rather than "other income" accounts. It's up to you how you do it and how much detail you wish to show. You could create just one GL account or you could create a main account and seperate sub accounts for each loan/customer.