loans - need option for sub accounts on creation
When setting up loan accounts in the Accounts Default section, you must assign only one account for Loans Payable, Loans Receivable and Loan Interest. We have 3 separate loans that are sub-accounts of these accounts. So each time I set up a loan, create a voucher for the loan payment, invoice interest payments, or invoice for a principal repayment, I need to reset the defaults so that they map to the correct sub account. Is there a way that you could allow us to enter the main account as the default but then choose the correct sub account as a drop down of the default account when creating vouchers and invoices. Thanks!!!
Deb Aben
shared this idea
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Deb Aben
commented
We really shouldn't have to go into the account default properties to change the loans payable account. Our organization currently has 4 loans all mapping to 4 different Loans Payable sub accounts.
I would like to give you a run down of what happens when you forget to do this when creating a new loan.
Well in my case I didn't notice until months later. So I have to unreconcile 2 months, unapply the cheque from the voucher, unpost and delete the voucher and unpost the loan. Then I go into the default properties, and add the correct loan payable account. Then I repost the loan, recreate the voucher with all the re-payment information, then I apply the check id to the voucher. Finally I have to re-reconcile 2 months - all because there is no provision to change the loan payment account other than in the defaults.
I know there haven't been many upvotes, but perhaps it is because not many people are using loans, or they don't have them broken down into sub accounts.
I really hope you consider this one seriously.
Thanks!