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Jewel Advance.

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Presentation on theme: "Jewel Advance."— Presentation transcript:

1 Jewel Advance

2 Jewel Advance Mortgages Balance Sheet Monthly Expense Comparison
Graphs Previous Bank Reconciliations

3 Registering your Mortgage in Jewel

4 Tracking your Church Mortgage
Tracking liabilities is a new feature in Jewel 7 and has changed for the new update The most common liability (and usually the only one to track) is the church Mortgage.

5 One Time Settings

6 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

7 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 – Mortgage Interest Paid (Sub Account of Mortgage Contra Account)

8 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

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10 Monthly Entries – Use your Mortgage Statement

11 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 Mortgage Interest Paid - key in interest added in Expense Box 9601 Mortgage Loan Balance – Key in Payment in Expense Box

12 This is how it looks when you enter your data.

13 This is how it looks if you go back to review your Entry

14 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.

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16 Financial Summary with Mortgage Tracking
Your Total Local Funds will be the difference between Total Bank Accounts Minus Mortgage Loan Balance

17 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.

18 Balance Sheet

19 Balance Sheet

20 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

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22 Jewel Balance Sheet

23 Net Worth

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25 Monthly Expense Comparison
Reports & Graphs / Monthly Expense Comparison

26 Jewel Graphs Select Report to Graph Select Color Select the Dates
Select the Accounts (All, Conference, Local, Individual) Select the Chart Type

27 Color Line Graph for Local Accounts

28 Color Bar Graph for Local Accounts

29 Color Area Graph for Local Accounts

30 Color Step Graph for Local Accounts

31 Previous Bank Reconciliations

32 Previous Bank Reconciliations

33 Questions? Need more Information:
Please feel free to contact your auditor: Nancy Enriquez-Strassburg Yolanda Acevedo Laverne Tavarez


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