After submitting a loan draw application, you can create the next application. Sage 100 Contractor assigns the current application status 4-Closed, moves costs from the Current column to the Previous column, and advances the number in the Application# text box.
| 1 | Open 3-8 Loan Draw Requests. |
| 2 | Using the data control, select the last application for the job and phase you want to update. |
| 3 | On the Options menu, click Create Next Application. |
Tip: Loan draws do not post to the general ledger and do not affect accounts receivable. After the lender transfers funds to your account, enter a deposit that credits the loan-payable subsidiary account for the loan.
For additional online resources for Sage 100 Contractor products, visit the Sage Customer Portal. Use the portal to access the knowledgebase, chat online with customer support, or enter a customer support ticket.
For additional training on Sage products, visit Sage University.