How to Pull a Debt Schedule from QuickBooks

Overview

QuickBooks does not have a dedicated "debt schedule" report, but you can create a loan repayment schedule using the Recurring Transactions feature. This allows you to set up and track regular loan payments as recurring bills.

Steps to Create a Loan Payment Schedule

1. Click the Gear icon in the upper right corner and select Recurring Transactions.

2. Click New to create a new recurring transaction.

3. Select Bill as the transaction type and click OK.

4. Enter a template name -- Give the template a descriptive name such as "Monthly Loan Payment" or the name of the lender.

5. Choose the template type -- Select Scheduled if you want QuickBooks to automatically create the transactions, or Reminder if you want to be notified when a payment is due.

6. Fill in the details -- Enter the payee (lender), amount, account, and payment frequency.

7. Save the template -- Click Save Template to finish.

Tracking Loan Balances

To track the outstanding balance of a loan:

• Set up a Long Term Liability account in your chart of accounts for the loan.
• When recording payments, split the transaction between the liability account (principal) and an expense account (interest).
• Run the Balance Sheet report to see the current loan balance at any time.

Alternative: Custom Reports

You can also run a Transaction List by Account report filtered to your loan liability account to see a history of all payments and the running balance.