Recording and Reconciling Loans

Recording loan payments correctly in QuickBooks Online is essential for clean financial statements and a smooth year-end close. In this video, we walk through how to properly split principal and interest, how to handle late fees, and how to reconcile your loan balance to your lender statement each month. You’ll learn why loans live on the Balance Sheet, how interest impacts your Profit & Loss, and the simple monthly workflow that keeps your books accurate and tax-ready.