How do you repay a loan from another entity?
This article demonstrates how to repay a loan from one entity to another in Traction.
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Account Register of Entity paying back the loan. (Ginger) 1. Select the Account Register for the entity that is paying back the loan (Ginger Checking in this example). Click on the Add New button and select Add New Payment. |
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| 2. Select the Notes Payable that you created for the loan, (Payable From...Wright for this example) for the Account. Enter all information including the Memo then hit the Save & Close button. The loan balance should now be zero. | 
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Account Register for the entity being reimbursed for the loan (Wright). 3. Select the Account Register for the entity that is paying back the loan (Ginger Checking in this example). Click on the Add New button and select Add New Deposit. |
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| 4. Select the Other Current Assets account that you created when the loan was created, (Receivable From...Ginger for this example) for the Account. Enter all information including the Memo then hit the Save button. The asset account balance should now be zero. | 
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