Quick Book Loans

Hello and welcome to the Community, hallascabinetry.

To view the breakdown of a previous loan payment in QuickBooks Online (QBO), access the loan transaction history in your Chart of Accounts.

Here’s how:

1. Select the Gear icon in the upper-right corner.
2. Under Your Company, click Chart of Accounts.
3. Locate and select the loan account, then choose View Register.
4. Locate the transaction and click on it to review the details.

Once you’ve reviewed the transaction, you may find it necessary to run a report to verify the accuracy of allocations. When running a report, ensure that you set a specific reporting period for dates associated with the loan. This will help you get targeted insights into your loan activity and ensure your review is accurate.

For more information, review this article: Customize reports.

If you have any additional questions or concerns related to QuickBooks, feel free to reply to this thread.

Hi there, Hallascabinetry.

Thank you for sharing additional details and for the effort you’ve already put into fixing your QuickBooks loan payments in your Chart of Accounts.

From what you’ve described, the payments weren’t allocated properly between principal and interest since the liability account tracks only the loan balance (principal).

Can you clarify how you’re currently tracking the interest portion of your loan payments? For example, do you have an Interest Expense account set up, or has it been categorized elsewhere? Once I have more information, I’ll guide you step-by-step on how to correct these entries and ensure your reports are accurate.

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