When working in a campaign, accruing debts is inescapable. In ISP, depending on the type of debt, there are two ways you can reflect debt: Accrued Expenses and Loan Received.
Accrued Expenses
These transactions record money your committee owes to another entity, whether it’s an individual or organization, for a product or service. Accrued Expense transactions are created like any other transaction, either in the Transactions section of the record or via the Register. These transactions will carry a balance with them until a payment is made. To view them, navigate to the Balances page under the Accounting tab. You also have the ability to lower or pay off the debt.
Loan Received
A Loan Received transaction carries a debt owed to an entity based on money you received from them. This debt remains until a payment is made or it is forgiven. To create a Loan Received transaction, use the standard process of either adding through the Transactions section in a record or via the Register. Similar to Accrued Expenses, you also have the ability to make a repayment or reduction on the loan.
