0433-01 Status info about Obligations

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                     TO: Interested  Christians                                                                                        FROM: Jim Bramer, Retired CPA 
                                                                                                                                                              FILE: 0433-01/env   

                      RE: Reporting the Status of Financial Obligations                                            Originated in October 2004       


         This topic pertains to the valuable periodic reporting of Financial Facts (FinFax), within the  Spending Controls  or  eQBuxBox  systems, that would include activity of your Non Mortgage Unpaid Debt, or obligations.  Examples include:

  • Church Pledges
  • Installment payments of Old Credit Cards  
  • Unpaid Student Loans
  • Periodic Installments in paying off non vehicle equipment purchases, etc.

        Further,  I would suggest that there be two categories of the agreed payments:

  • 1st Priority  =  it should be paid off ASAP due to high interest rates, etc -- or, the agreed payment is late.
  • 2nd Priority =  it is the amount that you have yet to pay in the future, etc.

        It is ideal to show when the obligation started,  plus the intended repayment goal and the repayment progress made during the named period of time, etc.

        It is desirable to have this Non Mortgage Unpaid Debt, or obligations, info appear within the  QBuxBox  or  Spending Controls Systems.   How it appears within these Systems will vary since it depends on which software that you use, but it likely will be presented in some type of "memo offset" manner.  See Fixed Asset info appearing within http://www.bcidot.org/all/0102-02.html.  Be sure and discuss with me such matters along these lines as:  >>  Have such matters happen within the software itself  >>  A three-legged approach (Click Here for info about how this is done as part of Ministry acctg) so that it is recorded as part of the payment process itself  >>  In some of the software below it will simply be best to update an  FinFax  Excel doc for such info.

        Comments by type of software follow:  

Money Matters

        Use such Accts as  "901-Old CrCard Debt" and "999-Offset"

QuickBooks

  Include within Liabilities following the general idea of info within http://www.bcidot.org/all/0102-02.html  about showing "Fixed Assets/Mortgage Pay/Offset etc."

Quicken

         Use such Accts as  "901-Old CrCard Debt" and "999-Offset"

Mvelopes

        You have a variety of options.   

Microsoft Money

        You have a variety of options.     


 FINIS:

   
  Please Click Here for a list of Spending Controls writings on www.bcidot.org.  Feel free to contact me at Jim@bcidot.org if you have any comments or questions about any of these matters.  Remember -- It is my desire to encourage you in your Christian walk and to be "Your Servant for Jesus Sake:" Thank you.   II Corinthians 4:5B  This was updated last: June 04, 2010   

Email Address:  Jim@bcidot.org  - Phone: (559) 298-5507  -- 
 Mailing Address:  2628 East Goshen Ave. - Fresno, CA 93720

http://www.bcidot.org  links:   Spending Controls HOME  | :  ABOUT  US   |    Spending Controls Purpose   |   SITEMAP   |   MFTeam HELPS