Setting Up a Loan Payment in QuickBooks

by Laura Madeira | April 22, 2013 9:00 am

To set up a payment for a loan using the Loan Manager program in QuickBooks, follow these steps after selecting from the menu bar, Banking, Loan Manager.

1. Select the loan from the list and click the Set Up Payment button. The Set Up Payment dialog box displays as shown here:
   [1]

   The Loan Manager can create the payment for the loan.

2. In the This Payment Is drop-down list, select one of the following options: A Regular Payment or An Extra Payment.
3. View the Account Information and Payment Information. Modify the Payment Information if necessary.
4. Select a Payment Method choosing between Write a Check or Enter a Bill.
5. Click OK and QuickBooks prepares a check or bill with the correct payment information.

Additionally from the Loan Manager, you can do the following:

• Edit the loan details or remove the loan.
• View summary information about the loan.
• View the payment schedule by payment number.
• Access contact information for the vendor, as set up with the original vendor record.
• Print the details of the loan.
• View multiple What If Scenarios, as shown below:
  [2]

  Use the QuickBooks Loan Manager to analyze different loan payoff scenarios.

 

From Laura Madeira’s QuickBooks 2013 In Depth[3]

Source URL: http://www.quick-training.info/2013/04/22/setting-up-a-loan-payment-in-quickbooks/

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