Is there a way to add loan charges to a paid off loan that was linked and downloaded principal and payments correctly but did not include charges in total owed?

Let me share options on how you can record the loan, @hutcheson99.

You can either record it as a liability account or record the loan as a vendor. Then, when you're ready to pay back the loan, you'll have to create a check:

1. Select the + New button.
2. Click Check. 
3. Add a check number if you plan to send an actual check. If you use direct withdrawal or an ETF, enter Debit or ETF in the Check # field.

Then, assign a different account for the loan charges under the Category column. You can use expense account and choose the correct detail type for the expense. 

For more details about recording loan in QBO, you may visit this article: Set up a loan in QuickBooks Online.

Also, if in case you want to put your loan money directly into your bank account, follow the steps below:

1. Select + New.
2. Click Journal entry.
3. On the first line, select the liability account you just created from the Account dropdown. Enter the loan amount in the Credits column.
4. On the second line, select your bank account from the Account dropdown. Enter the same loan amount in the Debits column.
5. When you're done, hitSave and close.

Please know that you're always welcome to post again if you have any other loan concerns. I'm always here to help. Wishing you and your business continued success. 

The loan was set up in Chart of Accounts as Other Current Liabilities loans Payable. The funds of $1600 were received thru business checking and payments were made by auto debit and included loan charges. The loan was linked to QB so as payment were made, they posted to the account. The loan is now paid but my problem is that it shows -$344.00 final balance which is the total of the loan charges. On the debit side, $1600 loan was posted and on the credit side payments with loan charges totaling $1944.00 which was the true cost of the loan. The difference is, of course my problem; they appear on one side but not the other. 

I talked to Quicken Support and we changed the $1600 to the true cost of $1944 but that threw checking off by $344. I tried a Journal entry to put the loan charges in the account but it did not change the ending balance. There doesn't seem to be a solution where I can make the account balance correctly in the Chart of Accounts without changing business checking and throwing it off.

The loan was set up in Chart of Accounts as Other Current Liabilities loans Payable. The funds of $1600 were received thru business checking and payments were made by auto debit and included loan charges. The loan was linked to QB so as payment were made, they posted to the account. The loan is now paid but my problem is that it shows -$344.00 final balance which is the total of the loan charges. On the debit side, $1600 loan was posted and on the credit side payments with loan charges totaling $1944.00 which was the true cost of the loan. The difference is, of course my problem; they appear on one side but not the other. 

I talked to Quicken Support and we changed the $1600 to the true cost of $1944 but that threw checking off by $344. I tried a Journal entry to put the loan charges in the account but it did not change the ending balance. There doesn't seem to be a solution where I can make the account balance correctly in the Chart of Accounts without changing business checking and throwing it off.

Thanks for following up with the Community, hutcheson99.
 

When working with loans in QuickBooks Online, there's a process for amortization of debits and assets that can be done through manual transactions, like journal entries and checks. When amortizing intangible assets, you can create journal entries to deplete them. You'd normally have an expense account set up to track everything, along with a sub-account attached to your asset accounts.
 

You'll be able to find detailed information about amortizing debits and assets in the following resource: Does QBO have an amortization schedule?
 

To assure you're accounting for everything properly, I recommend speaking with your accountant or bookkeeper. If you don't have one, Intuit has an awesome tool called Find an Accountant. Each ProAdvisor you find on that part of our website is a QuickBooks-certified accounting professional. They'll be able to provide helpful insights to drive your business's success.
 

Here's how it's used:
1. Go to https://quickbooks.intuit.com/find-an-accountant/.
2. In the Find an expert in section, choose what you're looking for, then use your search field to enter a City or ZIP code.3. Select Search.
4. Browse through the results and find one that works best for your business. You can click on each ProAdvisor's profile to learn more about them.

Once you've found an accountant/bookkeeper, they can be contacted through their Send a message form:

1. Use your available text box to introduce yourself. Be sure to include details about the services you're looking for.
2. Enter the appropriate info in the Your name, Your email, and Your phone number (optional) fields.
3. Hit Send message. 

Additionally, you'll be able to find many resources about using QBO in our help article archives.
 

Please feel welcome in sending a reply if there's any questions. Enjoy the rest of your day!