I cosigned an auto loan for another individual, but I am trying to keep up with the balance of the loan through my Quickbooks. I've entered the starting balance into a new "other current liability" account. However, how do I enter the payment he's made toward the loan since I didn't actually have any income? To clarify: I'm using a journal entry and have recording the principal and interest, but where do I send the full payment amount on the journal entry so that I can record it?
