How do I show a loan in my accounts

Chosking

I have received a loan from the bank to my company how would I show this in my accounts and how would I show any repayments and interest paid back.

I am new to using this software so step by step instructions would be really helpful.

S_n_C

Recording Statement / Proof of Transaction into a Journal:

* Money received from the bank as a loan is recorded in the journal as follows.
Cash (Dr) xxx -
Bank Loans - (Cr) xxx

* Paid / installments owed to the bank, are recorded as follows.

Bank Accounts Payable (Dr) xxx -
Interest Expense (Dr) xxx -
Cash - (Cr) xxx

Everything can be seen in the journal or in the reports menu option

But what is problematic for me is the custom reports, especially on the Simple Expression type fields, which allow the user to perform arithmetic operations. In fact, the name of the field I made was very simple, without symbols or special characters
Information that appears "Unable to substitute the expression. Unrecognized field name(s) detected."

jamaag21

Sorry for the late reply! Firstly, for the initial entry, you'll want to debit your bank account to represent the increase in cash. On the other side, credit your Loans Payable account to indicate the loan you've received. When it comes to repayments, debit your Loans Payable account to reduce the loan balance. Simultaneously, credit your bank account to reflect the cash going out for repayment. For interest payments, debit your Interest Expense account and credit your bank account for the cash paid for interest. Also, you can reach out to a specialist for expert advice. Personally, when I need guidance, I contact a Mortgage Broker in Chelmsford. These specialists have the knowledge and experience to provide detailed instructions tailored to your specific situation.