Recording a payment on a loan

When it's time to make a payment on a loan, use the Write Checks window to record a check to your lender.

To record a payment on a loan:

  1. Choose Banking > Write Checks.
  2. Make a check out to your lender 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 the amount for principal to the liability account you created to track the loan.