video1.0<iframe src="https://www.loom.com/embed/4e4461cbc938446bb4ec5e2809d40ab9" frameborder="0" width="2580" height="1935" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>19352580Loomhttps://www.loom.com19352580https://cdn.loom.com/sessions/thumbnails/4e4461cbc938446bb4ec5e2809d40ab9-00001.gif286.64000000000004 Hey there, it's Amber. In this Loom, I'll be showing you how to correctly record loan payments in QuickBooks to avoid inaccuracies on your financial statements. I'll explain why matching the whole payment to the note payable is not the correct way to do it and show you how to properly record a loan payment. I'll also explain how to categorize the principal and interest amounts and how to expense your interest charges as a business write-off. Finally, I'll show you how to check if your loan balance on your balance sheet reflects what is on your loan statement. If you have any questions, feel free to ask.