Loan Payment

The Truckers Helper provides the capability to automate loan payments, and separate principal and interest.

To Record Loan Payments:

1. Display the Income & Expenses window as outlined in About Income and Expenses.

2. Open a liability account.

3. From the Quick Entry selection box located on the right of the Income & Expenses window choose Liability. From the Liability menu choose Loan Payment. The Loan Payment dialog box is displayed.

3. Enter the loan payment type.

• 1 - Check

• 2 - Cash

• 3 - Savings

4. Click OK. The Liability - Payment on Loan dialog box is displayed.

5. From the Payment Account pulldown list choose the name of the payment account.

6. From the Liability Account pulldown list choose the name of the liability.

7. From the Interest Account pulldown list choose the name of the interest account.

8. Enter the Date or click the icon to choose a date from the calendar.

9. Enter the ProNumber, if applicable.

10. Enter the Truck Number, if applicable.

11. Enter the Amount paid.

    Note: The Truckers Helper calculates the Principal Amount and the Interest Amount, and creates a split transaction for the payment.

12. The Check Number is created by The Truckers Helper program.

13. Click the Enter Memo button to type a message in the text field box, if desired. Click the Hide Memo button to hide the memo text field box.

14. Click OK.

Note: It is important that you view the Loan Payment Tutor from the Income & Expenses window to thoroughly understand how this feature works.