Hello, good day, and welcome to today's session. Today we're looking at how to record loans and add repayments or loan repayments.

From the Built menu, locate accounting; from accounting, click on chat account; from chat account, click on liabilities.

You should find a sub-session labeled "loans."

Click on it. Click on the “+ new account or plus account” button to create a new loan account.

From here, locate the orange plus button at the top-right corner. Click on it, and then click on record loans from this interface.

Click on "+ new. To record the new loan, indicate the amount, select the loan account, and identify the bank or cash account receiving the payment.

You can describe it and add payment should you be satisfied with everything here. You can now click on "add a payment" to make a loan repayment.

In an instance where we are making a repayment that involves interest, you only add the principal here. Let's assume the principal payment we are making for this period is GHS 1,000.00

Describe it and save the payment.

Now, we can use the paid expense feature to record the interest payment, so you come to pay expenses.

Click on "New," then indicate the amount you're paying as interest. We are assuming it is GHS 200. Select your interest expense account here.

Indicate the account you're using to make the payment. Describe it and add a tag; you can add an attachment here.

Click on save and close, and just like that, we have created a loan account, added repayment, and recorded an interest payment.

Thank you very much for your time. Have a lovely day.