Question
How do I do this interest paid on vehicle loan thing?
Hi,
I'm a newbie so this might seem silly but I am so confused. We have 2 vehicle loans that I have put in as liabilities. Every month the payments are automatically withdrawn from our main checking account. This checking account is linked to quickbooks, so the payments have popped up and I've categorized them under the proper liability account, with x amount going to principal and x amount catergorized under interest paid. But now when I go to reconcile my account, I'm missing the amount that went to interest paid and I don't know how to solve this.
