QuickBooks LoanManager allows you to decompose every payment to correct amounts ofprincipal & interest payable. You can easily set up and process monthly
installment payments and adjust them if you miss a payment. In this blog, we
will get to know how to track new and existing loans, create repayments and run
some different ‘what-if scenarios’ for comparison on different loan choices.
How is QuickBooks Loan Manager Helpful?
Let’s see
how LoanManager in QuickBooks works. Any loan needs a fixed monthly payment,and this includes the monthly compounded interest at a fixed rate, the monthly
principal installments, the decreased interest portion and the increased
principal portion that grows with each installment payment throughout the Loan.
