Important: If you use the Loan Manager to track your
loans, also use it to set
up and record your payments.
To do this task
Go to the Banking menu and click Write Checks.
In the Write Checks window, make a check out to your bank for the amount of the payment.
In the detail area of the check, assign the amount for interest to an
interest expense account, and assign the amount for principal to the liability
account that you created to track the loan.
Memorize the check by choosing Memorize Check from the Edit menu.
You can have QuickBooks remind you when to use this transaction (for
example, each month), or you can have QuickBooks enter the transaction
automatically for you.
Save the payment.
Click Save & Close to save the transaction and close
Click Save & New to save the transaction and enter a
Setting up a liability account for a