Interest Posting to Loan accounts from Bank feeds on Interest Only payment from Checking Account

Thanks for the details, bfrank1.

When paying a loan, the principal account and the interest will both show in QuickBooks. It's possible that the interest payments was linked to the credit card account instead to the Interest (expense) account.

We'll have to make sure that the Interest was categorized under the expense account.

Afterward, let's create a Journal Entry and match the transactions.

Before doing so, I would recommend reaching out to your Accountant to help you select the correct accounts to be used.

1. Click the + New button.
2. Under OTHER, select Journal entry.
3. In the first line, select an account and enter an amount on the DEBITS column.
4. Select an account, and enter the same amount on the CREDITS column.
5. Click Save and close.

I'm just around if you still have other questions about Banking!