Loan Receivable is a kind of account receivable that you register all the money that you have to receive from customers or clients that you lent money, plus interest revenue generated periodically by outstanding balances.
In this example, imagine that you loan $100 to John with 10% of interest rate
How to assign loan receivables on Bkper?
1) Create the asset account to track the outstanding balance, plus the incoming account to track the interest revenue:
2) Record the amount of the loan:
3) Insert the interests periodically (usually monthly):
To calculate and record the interest periodically, you can use our Google Sheets Add-on.