Banking
It's a pleasure to have you here today, amit6.
If you're partially paying the bank, you can record the repayment as an Expense in QuickBooks Online. Be sure to split the expense between principal and interest in the category details.
In case you haven't set up a line of credit, you can visit this article for a detailed instructions: Set up and track a line of credit.
Once done, let's proceed to creating the Expense for repayment. Here's how:
- Click the +New icon.
- Under Vendors, choose Expense.
- Choose the bank account you want to make the payment from and other necessary information.
- Click Save and close.
You can visit this guide on how to make a payment to your line of credit in QBO: Track what you pay back.
Drop me a reply below if you need more help. I'm always delighted to assist you. Have a great rest of the day!
