I appreciate you for getting back, @trish-everything. I can share with you some additional information on how to record the payment in your new QuickBooks Online (QBO) account.
You can issue a check or record an expense transaction for the loan payment. Before that, create an account from the Chart of Accounts to track the entry. When you're ready to enter a check, follow these steps:
- Sign in to your QBO account.
- Go to the +New icon, then click on Expense or Check under Vendors.
- Fill in the necessary information, then save the transaction.
If you need help with the category details, check out the instructions from this link under Step 3: Record a loan repayment as your guide: Set up a loan in QuickBooks Online.
Additionally, you may consult with an accounting professional to give you more options in recording the payment and keeping your books in place.
If you have follow-up questions about the loan and loan payments, feel free to leave a comment below. I'm more than happy to help you again. Have a good day!
