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Take out a loan to pay for an asset

To do this task

  1. If you've made a down payment on an asset, record the down payment as an ordinary check or withdrawal from a bank account.

    1. Enter the amount of the down payment on the check. Click the Items tab, and select Add New to add a new fixed asset item.

    2. After saving the new fixed asset item, return to the Items tab, and enter the down payment in the Amount column.

    3. Record the transaction.

  2. Open the register of the asset account.

  3. Enter a new transaction in the asset's cost account register.

    1. In the Payee field, enter the name of the lender.

    2. In the Increase field, enter the amount of the loan.

    3. In the Account field, enter the name of the liability account you've created to track the loan.

  4. Click Record.

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