Liability account and amount

SmsfSmsf 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.

Comments

  • CalliePCallieP Administrator Posts: 360 admin

    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!

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