Loans between 2 Funds
We are testing using Loans in Csuite for the first time. It would be great if a loan could also have the option to be between 2 funds so that the system would not only create the entries on the fund making the loan, but also on the fund receiving the loan. And this would extend to the payments as well - that the system would make entries on both funds. In our case, we are loaning to an affiliate organization which has its funds with us. The payments are coming from that fund.
Christine Stammer
shared this idea
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Rachel Sandor
commented
Our Foundation manages many of these types of transactions, with loans between two funds. I agree the process is lengthier having to run it as a traditional loan and this would be a great function. We end up having to process the loan traditionally as if we are paying a real check and then enter invoices from the affiliate to move money in CSuite without it having to actually leave the bank. The process is not ideal for clarity on the transaction, though it follows the economic reality of the loan going to the affiliate and them giving it back to track in the fund.