Record a loan you have issued
Record money lent out through a reviewed receivable journal.
On this page
Have the loan agreement, payment evidence and receivable accounts agreed with your bookkeeper.
Start a Loan issued journal
Open Opening balances & journals, choose Loan issued and enter the date, scope and description.
Enter the principal
Prepare balanced lines for the receivable and funding accounts. Compare them with the actual funds lent before submitting.
Review and approve
Inspect the saved journal accounts and amounts, then approve posting when correct. Check the resulting account activity.
Record repayments separately
Distinguish principal repayment from interest earned. Review the actual repayment and any imported bank row before posting to avoid duplicates.
Check the result
- The posted receivable is traceable to the loan and payment records.
FAQs
Should I add this as a mortgage I owe?
No. The Loans tracker concerns borrowing. Money lent out is a receivable and uses the journal workflow.
Will this collect repayments automatically?
No. A journal records bookkeeping. It does not initiate payments or create a loan servicing arrangement.