How to post a loan simply and correctly?


It is usual that both individuals and companies and freelancers have to resort to external financing. Although having debts is common, what is not so frequent is keeping good accounts of them. Therefore, in today’s article we will see how we should account for a loan , which will help us make financial decisions.

Why post loans?

Why post loans?

If we have a business, keeping the accounting correctly is mandatory, but also at the domestic level it will be very good to be aware of what we enter and what we owe. Something as simple as knowing how to handle domestic accounting well can save us many dislikes and allow us to make our economic decisions more intelligently .

In the case of having a loan, our accounting should reflect both the money that has entered through that external financing and the amount that we owe as a result of it.

Steps to post a loan

Steps to post a loan

This is not really a complex issue, but often due to lack of time or carelessness, all the necessary data is not included in the accounting.

As we have just seen, the loan must appear in two different items . On the one hand we will put it as income , since through it we have received money. But, on the other, we must count it as a pending debt .

In this way we already have the loan in our accounting. Now, what you have to do is include loan repayments , which are the installments that we are going to pay.

If it is a loan with a fixed interest rate (a fixed rate mortgage, a personal loan, etc.) this will not be complicated. In fact, it is usually the credit institution that grants the customer the repayment schedule . In it we can see what we pay each month and how the debt is reduced until it is extinguished.

Reviewing this amortization table, we can know how much money we will return during the current year and what will be the amount of the debt that will be pending payment at the end of the year.

This allows us to have a much clearer view of the level of indebtedness both in the short and long term, something especially important in the case of companies.

Better with help

Better with help

Keeping the accounting of a business is not too difficult, but it does require a series of basic knowledge and some time to devote to this task. Luckily, there are many computer tools that simplify such a necessary task as accounting management.

However, in those cases in which you do not have too much idea about accounting, it is best to leave this task in the hands of professionals. It is true that it is an extra expense, but in the long run it usually compensates, since the entrepreneur earns time to devote it to other more productive tasks and also has the peace of mind of knowing that his accounting is in the hands of experts.

Trusting specialists is always a good idea. If you want to make sure that your business is viable and that thanks to it you can live peacefully, it is best to let yourself be advised by experts who help you know how to manage your money so that you never lack financial resources.

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