Tag Archives: loans

When to Reconcile Loans in your Bookkeeping

This article addresses the concept of maintaining your various types of business-related loans in your bookkeeping system. Small businesses will typically be in debt and thus will need to maintain some sort of loan account in their bookkeeping ledgers. There are indeed various reasons why a small business would even carry a loan in the

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Line of Credit Bookkeeping

Bookkeeping for a line of credit and perhaps some loans as well, can be confusing when those monthly closing statements list BOTH a Principal Balance and a Total Balance. The question you may have to ask yourself is which balance do you want to reconcile to each month?   Example: A Business Line of Credit

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