Reach is the only Accounting Software which is customised to suit 18 different business end to end.
A Loan or a Debt is raised for a business to finance its trade or Investment. Loans can be recieved as Term Loans, Asset Loans or Over drafts. When a Loan is recieved it has to be recorded in Moiboo Software. This section will teach you how to record a Loan taken for the business.
When a term loan or an Asset loan is repaid in Equated Monthly Instalments, The payment includes both Principal and Interest repayments. We will have to calculate the Interest component in the EMI and record it as an Expense. The loan account has to be reduced to the extent of the principal component. This section will teach you how this is done.
When the partner brings in Capital to fund the business, it needs to be recorded in the software. This transaction needs to be journalised and recorded to give effect in the Balance sheet.
This section shows you how partners capital is recorded in the Accounting Software.
Take a quick 10 question test to evaluate how well you have understood the concepts