Date: Fri, 29 Mar 2024 08:55:51 +0000 (UTC) Message-ID: <1089723510.41.1711702551273@ip-10-40-65-227.us-west-2.compute.internal> Subject: Exported From Confluence MIME-Version: 1.0 Content-Type: multipart/related; boundary="----=_Part_40_1379926650.1711702551270" ------=_Part_40_1379926650.1711702551270 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable Content-Location: file:///C:/exported.html
It is pretty simple to manage and keep track of your loans in Qu=
icken.
Let's understand this with an example. Assume that you bought a new car wo=
rth $30,000. You made a down payment of $5000; and borrowed a loan of $25,0=
00. To keep track of this loan, you need to:
You need to create an asset and a liability account to keep track of you= r car (asset) and your loan against the car.
Once you start repaying your loan, you can keep track of the amount paid= as principal and interest.
You can now schedule the loan repayment as a recurring transaction. Go t=
o your checking account and create a recurring monthly transaction with a s=
plit between the interest and the principal in the loan account.
Every month, you just need to click on the transaction. If required, updat=
e the amounts and mark the transaction as Paid.
We recommend that you go to your asset account regularly and adjust the = value of your asset depending on whether the value has increased or decreas= ed. This is important to help you have a clear picture of your total net wo= rth.