How do I record repayment for a loan?

To record a loan repayment, please follow the below steps.

• Go to the Expense module from the left sidebar.
• From the Category Name drop down, select +New Category.

• Enter the Category Name as Loan Repayment and add a description if necessary.

• Enter the amount you would be paying as a repayment.Add Tax from the drop down if applicable.
• Add any reference number or notes if necessary.
• Choose the contact from whom you obtained the loan from the Customer Name drop down.
• Click Save to record the expense.