loan from friend

Earle

How do I setup a loan from a friend, that is automatically paid to them via Zelle, from my checking account to theirs?

DannyB

@Earle

I'll take a stab at this. Here's what I'd do:

• Create a manual liability account:
  • From the Dashboard, click on the +ADD button in the upper left.
  • Select Add Manual Account.
  • Enter an Account Name and select Account Type > Liability.
  • Select the type of liability that you are tracking.
  • You can also enter a Balance, an "as-of" Date.
• When you make a payment to your friend via Zelle and the transaction is cleared at your bank and downloaded into QSimplifi, categorize this transaction as Transfer > [manual liability account you set up]

Since this is an automatic payment or even if you schedule each payment monthly, you could set up a recurring transaction which will include reminders for it in your Spending Plan.