So you received a loan for your business, but now how do you keep track of the payments?  

It may be a SBA loan, or just a small business loan from a family member or a bank, but now you need to know how to properly record your loan payments in Quickbooks Online that details the principal and interest amounts paid.

Let’s record your loan payments  

When recording your loan payments, it’s important to remember that most loans have interest. 

Typically, you will receive a statement each month or a schedule in advance with a detailed breakdown of your payments, making it easy for you to record in Quickbooks Online, and see the difference between the loan payable amount and the interest expense. 

Check out my step by step tutorial, guiding you through the recording process in Quickbooks Online.

Looking for more financial guidance?

Enrollment is now open for my financial success training program, Chart Your Course.

This course is designed to walk you through the process of learning, creating, and managing your financial future in as little as 6 weeks!

Become a master of your finances!

If you are a small business owner looking to create long term wealth and achieve financial success, join my free Facebook Community. 

I created the Facebook group for entrepreneurs and business owners looking to master their personal and business finances. I provide free weekly training and answer any bookkeeping, budgeting and financial questions. 

Head on over to thesteadfastmethod.com/community to join the group today!