How To Record Term Loan Payments In Online Accounting Software

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Q: How To Record Term Loan Payments In Online Accounting Software?

We have a standing order from our main business account to pay our term loan account, should I record this as a bank transfer?

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john_bullet ⋅ Staff April 18, 2014
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Hi Sjol,
In general, we would expect that interest charges are recorded as bills.  Depending on how you recorded the initial loan depends on how you would record the repayments.  Did you use the ‘Loan’ feature in ‘Money In’ to record the term loan, or is this a pre-existing loan you had before using Bullet?
Regards,
John.

#answer-416
  1. maddene April 30, 2014
    What would the process be for a pre-existing term loan in place before using Bullet?

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