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Accounts Receivable

All receivables are handled through journal entries. The only PLB receivables that require a process are notes to vendors, better known as loans.

Notes Receivable

Amortizations setup according to our procedures

PLB uses standard amortization scheduling, however, we will require running schedules on any interest rate percentage including 0 percentage.

Proposed: This module needs to allow for monthly, quarterly and annual payments and prepayments. The ability to put a hold or moratorium on loan payments and the ability to extend the ending date are also needed.

Notes Receivable Inquiry

Proposed: The PLB Notes Receivable module will show the monthly and year to date activity and the remaining balance per outstanding loan. At the end of the month a report will be generated showing total outstanding balances per loan.

Loan forgiveness

Proposed: Allow for loan forgiveness. When an amount is processed the system will post against the outstanding balance and will show new loan amount and recalculate the amortization schedule. Allow for the forgiveness of loan payments for a user defined period or by a set amount.