Liability account and amount
Smsf
Member Posts: 1
Hi,
I’m new to the waveapps and still learning how to use it.
I can add a new liability account and assign expenses against it. But I’m specifically interested in adding a liability account for, let’s say, a bank loan of $50k and assigning an interest of, say, $250 and principle of $1,000. These amounts could change every month. So ideally, my overall asset will grow as the liability reduces.
I’m new to the waveapps and still learning how to use it.
I can add a new liability account and assign expenses against it. But I’m specifically interested in adding a liability account for, let’s say, a bank loan of $50k and assigning an interest of, say, $250 and principle of $1,000. These amounts could change every month. So ideally, my overall asset will grow as the liability reduces.
in Using Wave
0
Comments
Hi there @Smsf , welcome to Wave! We're so glad you're here
If you're interested in how to record a loan, including interest and principal repayments, this Help Centre article goes over it step by step. I send you the link here instead of typing it out only because there are a number of steps and variables, but please feel free to reply on this thread if you need any assistance!