setting up existing loans transferred from quicken
When I moved my data from Quicken to Quickbooks it created the liability accounts for my bank loans. How to I get them into my loan manager or set them up to pay each month
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d29rGAVAir3QjyacfA8pyY
10/20/09 11:20am PDT
Viewed by asker 11/05/09 3:15am PST
Viewed by asker 11/05/09 3:15am PST
3 Replies
LauraD
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10/26/09 5:19am PDT
You don't need to use Loan Manager.
Post the payments using Write Check. Break out the principle and enter it against the liability account. Put the interest expense in a separate line.
You can (ctl-m) memorize and set to remind you monthly. SImply update the amounts to each line.
Laura AD
My motto:
Keep it as simple as you can. . .with only as much detail as you need.
When in doubt, make a backup first!!
*****
Laura Dion
Cents-able Bookkeeping, LLC
www.centsablebookkeeping.com
Keep it as simple as you can. . .with only as much detail as you need.
When in doubt, make a backup first!!
*****
Laura Dion
Cents-able Bookkeeping, LLC
www.centsablebookkeeping.com
11/05/09 3:15am PST
Thank you LauraD for your answer. I can do that. Is it not the point, however, of using quickbooks to make it more automated. If you enter the loan in at the beginning doesn't it amoritize it for you?
LauraD
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Questions answered: 11826
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11/05/09 3:35am PST
Latest post
If you use Loan Manager, it will do the calculations for you, but you still have to enter the transactions in QuickBooks.
Unless I am not understanding the process. . .
Laura D
My motto:
Keep it as simple as you can. . .with only as much detail as you need.
When in doubt, make a backup first!!
*****
Laura Dion
Cents-able Bookkeeping, LLC
www.centsablebookkeeping.com
Keep it as simple as you can. . .with only as much detail as you need.
When in doubt, make a backup first!!
*****
Laura Dion
Cents-able Bookkeeping, LLC
www.centsablebookkeeping.com
