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Record payment on a customer's loan

The total of the principal and interest entries must equal the total of the payment amount.

To do this task

  1. Go to the Banking menu and click Make Deposits.

  2. If the Payments to Deposit window opens, select the payment that you want to deposit now, click OK, then continue with step 6.

    If the Make Deposits window opens, continue with step 3.

  3. In the Received From column, enter the name of the purchaser.

  4. In the From Account field, enter the asset account for this loan.

  5. In the Amount column, enter the amount received toward the principal.

  6. On the next line, enter the name of the purchaser again in the Received From column.

  7. In the From Account field, enter the other income account used to track interest income.

  8. In the Amount column, enter the part of the payment that goes to interest.

  9. Save the transaction.

    Save the transaction.
KB ID# H_COA_TASK_CUST_LOAN_RECORD_PMT
12/2/2016 4:19:47 PM
PPRDQSSWS403 9138 Pro 2017 dbf4c5