Managing Loans Is So Easy
If your business has a loan, you can easily manage your loan(s) with the QuickBooks Loan Manager feature. This user friendly allows management to see where how much money is spend with each payment of principle and interest and without having to manually calculate the amounts each month. Very simply, the loan original information is input, including the original loan date, amount and interest rate. Then each month as you make payments, just go to the Banking Tab in QuickBooks, highlight the loan which you are making a payment and click Set Up Payment. The program asks if this is a regular payment or extra payment. You can select regular payment, click OK. At that time, the interest and principal is automatically calculated and you do not have to do it yourself. It is also very easy to determine how much you owe any particular loan.
QuickBooks allows you to easily determine how much interest you would save if you made an extra payment. It even allows you to input information for escrow accounts, if you have them.
This is only one of the many user friendly yet very feature for small and medium sized businesses. How many of these features can contribute your business success?
