BHT&D Certified Public Accountants Blog

How Should Loans And Loan Payments Be Recorded In QuickBooks?

Posted by Andrew Seiler on Thu, Jul 02, 2015 @ 07:00 AM

A common mistake I see users of QuickBooks make is how debt or loans are recorded in QuickBooks and how payments are made to that debt. This article will assist QuickBooks users in correctly recording both the original transaction that generated the loan and new asset, as well as recording the loan payments subsequent to the purchase date.

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Tags: Asset, Small Business Accounting, QuickBooks Tips, QuickBooks, Loan, Debt, Liability