How Do I Record Loans?

When entering in Loans, whether Loan Received or Loan Made, it is vital to keep in mind that you are recording the transaction from the point of view of the Committee.

To enter in a Loan Received, fill in the entity field with who gave the loan to the Committee. In most cases, it is the candidate but could also be from another donor or a bank. Other fields will populate, though not all fields are required. Be sure to fill out the fields that are applicable to keep your information correct.

To enter a Loan Made you will fill in the entity field for who the Committee gave a loan to. This is a rare situation. An example of this situation would be if a candidate is being reimbursed for an expense that was not considered a qualified expense and must pay the Committee back.

Once you add a Loan to your database, it will then be reflected in your Balances.