How to track a loan to a friend

Iwant More

Hello! I loaned a friend money recently and I am wondering if I can track the repayment of the loan in Simplifi? I thought I might be able to use Refund Tracker, but it apprears it is only a one time use. Any suggestions?

atommasi

If you've agreed on set payments, you could setup a recurring income and track it that way.

DannyB

You could set up a manual account for the loan and when your friend makes a payment credit it to that account.

I tried this out using an asset account for account type and started with a negative balance. I entered a trans action in my checking account and categorized it as a transfer to the test asset account and the balance adjusted accordingly.

Iwant More

Thank you @atommasi and @DannyB for your help.