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Record a loan payment

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

  1. Go to the Banking menu and click Write Checks. Shortcut

  2. In the Write Checks window, make a check out to your bank for the amount of the payment.

  3. 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.

  4. 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.

  5. Save the payment.

    • Click Save & Close to save the transaction and close the window.

    • Click Save & New to save the transaction and enter a new one.

See also

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