Understanding the New Accounting Feature in LoanDisk

Summary
The video explains how to use the new accounting feature in LoanDisk, a software platform. It covers setting up accounting preferences, adding bank accounts, managing currencies, and understanding the differences between cash and accrual accounting. The video also demonstrates how to add loans, record payments, and generate financial reports. Additionally, it shows how to perform manual journal entries and use taxes for expenses and income. The video concludes with tips on customizing and optimizing the accounting process in LoanDisk.
Highlights
💼 LoanDisk demonstrates its new accounting feature for users.
🏦 Users can choose between accrual and cash accounting methods.
🌍 Different currencies can be used for branches, but bank accounts within a branch must have the same currency.
💳 Users can add and manage bank accounts, automatically associating them with specific loan products or branches.
💰 Cash and accrual-based accounting affect how loan repayments and interest are recorded in profit and loss statements.
📝 Manual journal entries can be used for custom accounting requirements.
📊 Financial reports like balance sheets and cash flow statements are automatically generated.
📉 Users can track taxes (sales and purchase) for expenses and other income.
🎚️ Users can customize column displays and optimize the accounting process according to their needs.

[@imbidimbashila7170]

Kindly upload a vid on how to setup and use the LoanDisk

[@godwindecastro334]

when u download it what password and email did you use to open it

[@matthewalkman386]

so does it get you loans? If not whocares might as well use Quickbooks

[@repotranstech]

Interest not installments,I think.