Hello;
Needing assistance! We are a Florida Condo Association - Not-For-Profit with 80 condo units - owners. Two years ago the Association set up a Loan with our bank to allow Owners to borrow from this to pay a Special Assessment. It started out for two years as interest only payments, then recently converted to a Fixed Interest rate loan for each Condo owner that participated, 10 year term. We now have 13 Owners that owe funds to the Loan Account. Association is using QuickBook Desktop Pro 2019 to manage our accounts, but are using an excel spreadsheet and manual calculations to manage the loans. Would like recommendations on how to better - more accurately manage the loans, also making them audit proof! Thanks in advance.
Gary
[email address removed]
