How to Use the QuickBooks Loan Manager

Written by admin on April 2, 2013

Getting Ready to Use the Loan ManagerLoan Manager QuickBooks

QuickBooks Loan Manager is an excellent feature in the software that tracks loans, repayments with compounded interest and principal installments for a specific period. Each time you make a payment, the interest portion will gradually decrease while the amount going to the principal will increase. The Loan Manager in QuickBooks creates the amortization schedule for the loan duration and shows what portion of each payment applies to interest, principal and escrow. In addition, the Loan Manager lets you make a payment for the regularly scheduled amount due, or additional payments. We love the fact that it allows you to compare a variety of loan choices by running “what if” scenarios.

Before you get started, there are action steps you must take prior to tracking your loan in the Loan Manager feature. Follow the instructions below to track your loans and repayments in QuickBooks Loan Manager:

You are now ready to use the QuickBooks Loan Manager to set up your loan. If you have additional questions regarding any aspect of QuickBooks contact our experienced QuickBooks consultant in your area for help. Most provide a free initial consultation.

Click the link for step by step instructions on How to Add your Loan to QuickBooks Loan Manager