QuickBooks for Lending Companies - Setup for Money Lending

This video on QuickBooks for lending companies shows you how to set up your desktop software for money lending and cash advance business. We discussed the following: 1. How to set up a chart of accounts for lending companies; interest income, loan secured from fund providers, cost of funds, loan receivables, savings, and interest charges. 2. Create personal loans, business loans,s and interest rate charges 3. Add a bank account for loan disbursements. 4. Add a bank account for savings deposits. 5. Create a customer account and receivable balances; loans and savings - You can add documents showing customers' profiles. 6. Create departments or categorize your lending business into personal and small business loans or savings and loans. 7. Vendors and payable balances. 8. Direct cost: cost of funds from financial institutions, interest expenses on customers' savings. 8. Create invoices for loans disbursed to customers, track interest rate charges in percentage, and payback period. 9. Create receipts for customer deposits or savings and interest payables. 10. Receive payment for loan settlements. 11. Record regular business expenses. 12. Manage your banking transactions - check, transfer funds, use register and reconciliation 13. Generate financial reports - income, expense, interest income and charges, profit or loss by department or categories, trial balance, balance sheet, and cash flow. ► Subscribe now and turn on the notification below to get more helpful videos - https://www.youtube.com/user/PinBokTV?sub_confirmation=1 Some helpful articles: ► How to choose the right QuickBooks desktop for your business - https://accountingsoftware.com.ng/which-quickbooks-right-for-my-business/ ► How to manage savings, loans and investments for your co-operative - https://accountingsoftware.com.ng/quickbooks-bank-statement-co-operatives/ ► How to choose the right QuickBooks cloud solutions - https://accountingsoftware.com.ng/quickbooks-cloud-solutions-business/ ► How to do inventory transfer on QuickBooks Online Plus - https://accountingsoftware.com.ng/inventory-transfer-multiple-location-quickbooks-online/ ► QuickBooks for FMCGs - https://accountingsoftware.com.ng/accounting-software-wholesale-fmcg-distributors/ ► Is QuickBooks easy to learn? - https://accountingsoftware.com.ng/is-quickbooks-easy-to-learn-fast/ ► Is QuickBooks good for restaurants? - https://accountingsoftware.com.ng/is-quickbooks-desktop-good-for-restaurants/ ► Best Accounting software for Healthcare or HMO - https://accountingsoftware.com.ng/best-accounting-software-for-healthcare-insurance-hmo/ ► How to Hire a Bookkeeper - https://accountingsoftware.com.ng/accounting-bookkeeping-services-nigeria/ ► How QuickBooks work for Real Estate and Property Developer - https://accountingsoftware.com.ng/quickbooks-real-estate-developers-property-manager/ ► QuickBooks for nightclub owners -https://accountingsoftware.com.ng/best-accounting-software-nightclub-bars/ ► Why you don't need QuickBooks Enterprise solutions - https://accountingsoftware.com.ng/downgrade-quickbooks-enterprise-pro-premier/ ► How Microlenders are using QuickBooks - https://accountingsoftware.com.ng/quickbooks-micro-lenders-loan-company/ ► QuickBooks for Oil and Gas - https://accountingsoftware.com.ng/accounting-software-oil-gas-companies/ ► QuickBooks for NGOs or non-profit - https://accountingsoftware.com.ng/quickbooks-for-non-profits-ngos-accounting-software-in-nigeria/ I have successful setup QuickBooks and trained beginners or managers of businesses (Nigeria, Kenya, Uganda, USA) in the following sectors: ► Retail and Manufacturing ► Real Estate and Properties ► Professional Services ► NGO or Non-profit ► Financial Services ► Shipping and Logistics ► Schools and Educational Centres ► Poulty Farming ► Restaurants and Food Distribution ► Oil and Gas Servicing If you'd like to know how I can implement QuickBooks accounting software solutions for your business, connect us at bigresourcessolutions@gmail.com 0r chat us via Whatsapp (+2348105090001). You really don't have to spend much to acquire software. We can help you customize QuickBooks for: ► Invoicing ► Payment ► Tax ► Banking ► Inventories ► Expenses ► Reporting ► User management and control ► Backup ► Cloud hosting. If you enjoyed this video, please give us a thumbs up by subscribing to this channel: ► Subscribe now and turn on the notification below to get more helpful videos - https://www.youtube.com/user/PinBokTV?sub_confirmation=1