Contact Disbursement Accounts

In trust accounting, the balances held in trust for a particular Lender are stored in a Disbursement Account.

The disbursement account is configured on the Contact record for that lender.

The balances of a loan are held in the normal loan record which is configured under the contact record for the borrower.

Each loan is assigned to a loan group which defines the GL to which it reports. In this case, that loan group will be configured to point to the disbursement account of the corresponding lender.

To add a disbursement account for a lender, query the lender’s contact. Then click . Click Add Add to configure a new disbursement account.