How do I clear a Loan Account which is set up as a Custom Holding Account?
Navigate to Fund level > Transactions > Browse Bank Statement
- Select the Custom Holding Account from the drop-down list
- Click on + Add
- Enter the Date, Description and the amount which will clear the closing balance of this account
- Click on Save Transactions
The Custom Holding Account closing balance will then be $0.00.
As there should be no existing Market Value for the Loan Account, reducing the closing balance to $0 will reduce the Market Value to $0 at the same time.