Loan Payable
Updated over a week ago

Loan Payable is an account payable that you register the amount that you have to pay to someone that lends you, plus interest revenue generated periodically by outstanding balances.

Take a look at this example: you borrowed $100 from John with a 10% of interest rate.

How to assign loan payment on Bkper?

1) Create the liability account to track the outstanding balance, plus the outgoing account to track the interest revenue:

2) Record the value of the loan:

3) Record the interests periodically (usually monthly):

To calculate and record the interest periodically, you can use our Google Sheets Add-on.

The flexibility you need in bookkeeping!


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