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Single Subject Training (Live Online)
CenterPoint Accounting for Agriculture– Loan Processing

This session provides you with the information necessary to become familiar with loans which are normally defined as long-term liabilities (they will take more than a year to pay back). By properly processing loans, you always know the current principal owed, annual interest expenses for the loan, etc.

Presenter: Julie Strain

Red Wing Software Sales Engineer

Register

Event Details:

If this is your first time joining us for one of our Single Subject Trainings please take a few minutes to view our Introduction to Online Training Video by Clicking Here

This session is presented live, online by one of our CenterPoint experts and is recorded so it can be viewed at your own pace, at any time for 30 days after the session.

Red Wing Software reserves the right to cancel any class.If such a cancellation is necessary, registrants will be notified and attempt made to reschedule or make alternate arrangements(Professional Services, Webinar, etc.).Registrants will receive a full refund of the class fee, but Red Wing Software is not responsible for other costs incurred.

Substitutions may be made anytime before the start of class.

CenterPoint Accounting for Agriculture – Loan Processing

Thursday, March 7, 2019
9:30 am - 11:00 am CST
Seats Available: 18
Price: $49

After attending this session, you will be able to:

  • Create loan liability accounts for each outstanding loan.
  • Record a loan for a specific purpose:
    • Purchase with a loan and down-payment.
    • Purchase with a loan with no down-payment.
    • Operating Loan.
  • Make a loan payment with and without accrued interest.
  • Understand how to use an amortization schedule to analyze “what if” scenarios regarding your loans.
    • Create an amortization schedule.
    • Calculate cost savings for making additional principal payments.
  • Calculate accrued interest transactions on loan that has annual or scheduled infrequent payments.
    • Assign details to the loan account.
    • Process accrued interest transactions.
  • Understand Commodity Credit Transactions and how the transactions affect the Schedule F:
    • CCC loan treated as income.
    • CCC loan treated as a loan.
    • CCC loan treated as income with Elevator paying the loan.
  • Move the current year’s principal on a long term note to increase the Current Liabilities section and decrease the Long Term Liabilities section of the Balance Sheet.
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