I have several high interest loans on the books. I recorded the loan origination fees to interest, should I create an expense account for loan origination fees.

Hey there, accounting 156. 

Thanks for stopping by the Community this afternoon. I would suggest making an expense account, to do so follow these steps when recording the loan payment. 

1. Select + New.
2. Select Check. Or if you're in Business view, follow the steps to switch to Accountant view first. Then come back to these steps.
3. Add a check number if you send an actual check. If you use direct withdrawal of EFT, enter Debit or EF in the Check # field.
4. Enter the following information in the Category Details section.
   • First line: Liability account for the loan and the amount of payment.
   • Second Line: Expense account for the interest and the amount.
   • Additional lines: Any additional fees along with the appropriate accounts.
5. Select Save and close.

This process is the steps necessary to record a loan payment with associated fees with interest. That should get you going in the right direction, you can read more on these steps as well as further information in the following article: Set up a loan in QuickBooks Online. 

If you have any other questions or concerns, feel free to post down below. Thank you for your time and have a nice day.