QuickBooks Pro 2018 Loan Payments, Interest, Principle

QuickBooks Pro 2018 Loans Payments, Interest, Principle will cover how to record a loan payment in the accounting software. We will discuss what an amortization table is so that we know the correct line items to use within QuickBooks Pro 2018. We will then show multiple ways the entry can be put int the accounting software. We could use QuickBooks Pro 2018's jorunal entry feature, the accounting softwares, check feature, or QuickBooks Pro 2018's check register. Will enter one transaction into the accounting software's check register by opening the check register, entering the amount as a payment. Then we need to use QuickBooks Pro 2018's split feature to enter multiple accounts. One account will be interest expense and the other will be loans. We will get the amounts we enter into the accounting software from the amortizations table. We will then enter the second payment using a check. We will see that the amount of the payment entered into the accounting software will be much the same but the interest and principle will change.

[@graceyim2941]

Wonderfully explained. Thank you.

[@geraldsteele7620]

Good demonstration for accounting learning plus some Excel instruction as necessary for the demonstrated tasks

[@haithameltahir8288]

Simple and fruitful

[@stephenmauro1770]

Customers make deposits to my checking accounts for their mortgage payments. How do I apply their payment to principal and interest and can quick books do that calculation for me? I use Wells Fargo direct connect with bank feeds, so I hope to do this transaction from the bank feed transaction list. thanks

[@accountingoceangroup1779]

can i use the loan manager under banking to automatically adjust the interest and principal?

[@idrivetransportation]

Thank you

[@chaslesplumbing0077]

How do I input a daily loan

[@khusboopatel9630]

Account is wrong. It should be Interest Payment not insurance expense.