@Frieaza
"Loan received
Debit: Bank account 159,400
credit : loan account 159,400"
Looks good.
"Loan repayment
Debit: loan account 159,400
Credit: bank account 159,400"
There's no need to use a journal entry (JE). Writing a check from your bank account in QBD does the same thing. This obviously records a single payment paying back the entire loan balance.
"Loan interest
Debit: interest expense account 46.49
Credit: loan account 46.49
Interest payment
Debit: loan account 46.49
credit bank account 46.49"
There's no need to put this charge into the loan balance (JE #1) and issue a separate payment (JE #2) unless you need to record a timing difference for the $46 (interest charge on one date and payment on a different date). Again, there's no need to use a JE for the interest payment. Writing a check from your bank account does the same thing.
