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besogrant
Level 1
posted
‎March 16, 2020 05:12 PM
last updated ‎March 15, 2020 11:12 PM

I have got a interest free loan from a sponsor. Part of the repayments instead of sponsorship is reduced repayments how do i show this in quickbooks

 
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1 Comment 1
bonny__
Level 2
‎March 18, 2020 10:33 AM

I have got a interest free loan from a sponsor. Part of the repayments instead of sponsorship is reduced repayments how do i show this in quickbooks

Hi besogrant,

 

The best (and easiest) way to record this would be to record the loan payment amounts at the reduced rate, but in the Description of the line item/transaction, specify that it is reduced from the original amount by __% rate. 

 

Bonny

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