How to Record Loan Payments in Quickbooks Online

So you have a loan for your business and you are wondering how to record loan payments in Quickbooks Online? These loans could be an SBA loan or just a small business loan from a family member or a bank and now you need to know how to properly record a payment that details the principal and interest amounts paid for the loan in QuickBooks Online. In today's video, we are going to share with you a Quickbooks Tutorial on how to record loan payments right inside of Quickbooks Online software account. Stay tuned for the Quickbooks online tutorial so you can get a better understanding on how to do this for your small business! This video is brought to you by Stephanie Thacker, Founder & CEO of Steadfast Bookkeeping Co.

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[GPAM]

I learn something new today!!! Yeahhh :) Very Helpful, you gain a new follower.

[bryanc]

This also should explain when is not from the bank loan, because also there are other companies that lend money and as a suggestion, please do that to. Thank you very nice and clear explanation.

[ashleycarter]

What do you do with the loan payment every month that came over in the bank transactions

[paulatete]

thank you so much for taking your time to teach us

[LucineaFagundesDosSantos]

Thank you Stephanie, great explanation.

[hccproadvisors]

How do you categorize the Outflow of money from a loan made to a third party in quickbooks?

[akuchampaneri]

i have the loan added under long term liability, do i need to create an assets account for the loan for the vehicles.

[laurajohnson]

Thank you for the simple and clear explanation! Just subscribed to your channel!!

[buffgiftednakedpodcast]

Sooo helpful!! Thank you for this. You saved me so much time.

[davidcowden]

Hi Stephanie. I have my truck listed as a fixed asset in QBOL. How do I record the payments the company makes for that? Thank you!!

[myfloridahomeservices]

How do I account for interest expense when recording my bank feed loan payment as a transfer to a long term liability account( car loan)? There is no split function on the "record as transfer" option on bank feed transactions.

[sva-ed]

in the same transaction for vehicle loan it keeps adding bank payment in fixed asset as well why?

[reaganhernandez]

What if my client had the car loan for a few years already, and im just now doing his books.. do i Record the Origanl cost or the amont he has to pay as of today

[kimbaking]

Excellent explanation this was what i was looking for, could you help me how to record a guarantee payments to owners in QB, I'm very new in this software. thank you.

[muratuzer]

Thank you for your video. I do have one question though (and maybe I am making a thought mistake). Your loan account does include principal plus interest. You only record principal payments though. This way your loan account does not balance out when you make your last loan payment. The difference should be the amount in interest you paid over the years. How do you balance that? Am I thinking wrong?

[NegociosconMaria]

Thanks I do appreciate your videos, just discovered your channel! Congratulations!’

[fvidal]

Can someone help me. When i create the journal entry, do i include the insterest im paying for the vehicle (in the 5 yr loan) or just the cost of vehicle without insterest?

[jerinbrooks]

I dont have the "accounting" option on my quickbooks

[thomaslemmenes]

Great information and explained so clearly!

[jenmusgrave]

Thank you so much! This is exactly what I needed! Explained very clearly and I really appreciate the visual on screen step by step example.