Hi,
I use Quicken 2012 for Windows to track my personal finances. I made a no interest loan to a friend for a few weeks, and now it has been repaid. How do I reflect this in Quicken? I don't want it show as income.
I set up an asset called Personal Loans, transferred the money there when I made the loan. When it was repaid I simply transferred the money back to my checking account. Is this the best way to handle it? If there had been interest charged, I could simply enter the amount in the Asset's register as interest income.
Thanks!
I use Quicken 2012 for Windows to track my personal finances. I made a no interest loan to a friend for a few weeks, and now it has been repaid. How do I reflect this in Quicken? I don't want it show as income.
I set up an asset called Personal Loans, transferred the money there when I made the loan. When it was repaid I simply transferred the money back to my checking account. Is this the best way to handle it? If there had been interest charged, I could simply enter the amount in the Asset's register as interest income.
Thanks!
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