Ohio State University Extension Bulletin

Computerized Farm Record Keeping with Quicken® 2002

Bulletin 897-02

Data Entry

Example 13: Making a Loan Payment

You write a check to Bank of Anywhere for $56,345.00 for payment on a loan.

Num: Click on Num field, Click Next Check Num.

Date: Click the Date field. Use the calendar or +/- keys to set proper date.

Payee: Click on the down arrow in the Payee field. Click Bank of Anywhere.

Payment: Click on the Payment field. Type 56345.00.

Category/Class: Click Split in the lower right hand corner of the transaction. Click the down arrow in the Category field on line 1, Click Interest Exp, Type /g (for Gen Farm class). Click the Amount Column, Type 1345.00, Click Next, Click the down arrow in the Category field on line 2, Click [BOALoan]. Type /g (for Gen Farm Class).

Click the Amount field, Type 55000.00 Click OK.

Memo: December loan payment.

Record: Click Enter.
**Note** To see how this payment affected the balance in your liability account [BOALoan], Click the Accounts tab located under My Finances in the Quick Tabs list. Next, Double Click BOALoan. This takes you to the register in this liability account. You can see after making this payment your balance is now $0.00.

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Num:	Click on *Num* field, Click Next Check Num.
Date:	Click the *Date* field. Use the calendar or +/- keys to set proper date.
Payee:	Click on the down arrow in the *Payee* field. Click Bank of Anywhere.
Payment:	Click on the *Payment* field. Type 56345.00.
Category/Class:	Click Split in the lower right hand corner of the transaction. Click the down arrow in the *Category* field on line 1, Click Interest Exp, Type /g (for Gen Farm class). Click the Amount Column, Type 1345.00, Click Next, Click the down arrow in the *Category* field on line 2, Click [BOALoan]. Type /g (for Gen Farm Class).

	Click the *Amount* field, Type 55000.00 Click OK.
Memo:	December loan payment.
Record:	Click Enter. Note To see how this payment affected the balance in your liability account [BOALoan], Click the *Accounts* tab located under My Finances in the Quick Tabs list. Next, Double Click *BOALoan*. This takes you to the register in this liability account. You can see after making this payment your balance is now $0.00.