Updating costs from change orders for loan draws automatically

Consider these points:

• If Sage 100 Contractor finds cost codes that are not present in the loan draw application, review the change orders, and then manually enter the cost codes that you want to include in the loan draw.
• You can update the data from change orders as often as necessary.
• 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.

To update costs from change orders for loan draws: