I want to set you biweekly loan payments as a recurring entry in Quickbooks Online. How do I do this?

Hello, 

Recording a loan and loan payments in QuickBooks Online is a straightforward and simple process. You can make the most of QuickBooks Online by exploring the Recurring Transactions feature, which may help you automate certain parts of your bookkeeping. If you're planning on recording the same entry multiple times, this feature will work perfectly for you. I'd be happy to explain how you can use this feature to record your loan payments on a biweekly basis. 

First, it's important that you know how to record the loan and your loan payments in QBO. Follow along with this article to see how to do it: Set up a loan in QuickBooks Online. As explained in this article, here's how to record a loan payment:

1. Select + New.
2. Select Cheque.
3. Add a cheque number if you send an actual cheque. If you use direct withdrawal of EFT, enter Debit or EF in the Cheque # field.
4. Enter the following information in the Category Details section.
   1. First line: Liability account for the loan and the amount of payment.
   2. Second Line: Expense account for the interest and the amount.
   3. Additional lines: Any additional fees along with the appropriate accounts.
5. Select Save and close.

Now that you know how to use the Cheque feature to record a loan payment, you can set this up using the Recurring Transactions tool.

Here's a list of all the different types of Recurring Transactions you can set up in QBO:

• Bill
• Non-posting Charge
• Cheque
• Non-Posting Credit
• Credit Card Credit
• Credit Memo
• Deposit
• Estimate
• Expense
• Invoice
• Journal Entry
• Refund
• Sales Receipt
• Transfer
• Supplier Credit 
• Purchase Order

To create a recurring transaction, click the Gear icon > Recurring Transactions > New > Cheque.

I hope this helps you reach your goal today. 

If you need help with anything else, please reach out to our tech support team.

Cheers.