Jewel Advance
Jewel Advance Mortgages Balance Sheet Monthly Expense Comparison Graphs Previous Bank Reconciliations
Registering your Mortgage in Jewel
Tracking your Church Mortgage Tracking liabilities is a new feature in Jewel 7 and has changed for the new update 7.03. The most common liability (and usually the only one to track) is the church Mortgage.
One Time Settings
Setting up your Mortgage Accounts On Maintenance/Edit Accounts/Add New Account key in the following accounts and choose the "Type" as Liability: 9601 – Mortgage Loan Balance 9603 – Mortgage Payment
Setting up your Mortgage Accounts On Maintenance / Edit Accounts / Add New Account key in the following accounts and choose the “Type” as local: 9602 – Mortgage Contra Account 9602.1 – Mortgage Interest Paid (Sub Account of 9602 Mortgage Contra Account)
Setting up your Mortgage Balance To set up Mortgage Balance: On Accounting/Make General Journal Entry: Memo: Set up Mortgage Choose to record in Checks Written and Bank Fees Leave Bank Account amount blank 9601 Mortgage Loan Balance in Income box key in mortgage total 9602 Mortgage Contra Account in Expense box key in mortgage total
Monthly Entries – Use your Mortgage Statement
Recording payment and Interest To record monthly payment and interest added: On Accounting/Make General Journal Entry: Memo: Mortgage activity for September 2019 Choose to record in Checks Written and Bank Fees Leave Bank Account amount blank 9601 Mortgage Loan Balance - key in interest added in the Income Box 9602 Mortgage Contra Account – key in Payment in Income Box 9602.1 Mortgage Interest Paid - key in interest added in Expense Box 9601 Mortgage Loan Balance – Key in Payment in Expense Box
This is how it looks when you enter your data.
This is how it looks if you go back to review your Entry
Mortgage Payment - Check The actual check for the mortgage and any donations for the mortgage should be processed through a Building Fund account (any account name as long as it is a local "Type") Please notice this is a separate transaction from Recording Payment and Interest. Writing the check DOES NOT keep track of your mortgage balance. Recording Payment and Interest DOES.
Financial Summary with Mortgage Tracking Your Total Local Funds will be the difference between Total Bank Accounts Minus Mortgage Loan Balance
Balance Sheet The Balance Sheet represents a financial position at the end of a specified date. It is also called “The Statement of Financial Position.” It is composed of 3 basic sections: Assets – What the Company owns Liabilities – What the Company owes Owners Equity – A source of the company’s assets. Also referred to as “The Book Value of the Company” because owner’s equity is equal to the reported asset amounts minus the reported liability amounts.
Balance Sheet
Balance Sheet
Example Company Balance Sheet 12/31/2018 Assets Current Assets (Bank Accts) Investments Property, Plant & Equipment Other Assets Total Assets Liabilities & Owner’s Equity Current Liabilities Long-term Liabilities Total Liabilities Owner’s Equity Total Liabilities & Owner’s Equity
Jewel Balance Sheet
Net Worth
Monthly Expense Comparison Reports & Graphs / Monthly Expense Comparison
Jewel Graphs Select Report to Graph Select Color Select the Dates Select the Accounts (All, Conference, Local, Individual) Select the Chart Type
Color Line Graph for Local Accounts
Color Bar Graph for Local Accounts
Color Area Graph for Local Accounts
Color Step Graph for Local Accounts
Previous Bank Reconciliations
Previous Bank Reconciliations
Questions? Need more Information: Please feel free to contact your auditor: Nancy Enriquez-Strassburg Nancy.Enriquez@floridaconference.com 407-754-5184 Yolanda Acevedo Yolanda.Acevedo@floridaconference.com 813-716-0653 Laverne Tavarez Laverne.tavarez@floridaconference.com 954-558-9863