Restaurant
Monthly Bank Loan Repayment
Paying the monthly installment on a bank loan taken to open the restaurant.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Notes Payable (Principal) | Liability (-) | 1,500.00 | - |
| Interest Expense | Expense (+) | 300.00 | - |
| Cash / Bank | Asset (-) | - | 1,800.00 |
💡 Accountant's Note
Every loan payment is split between reducing the principal debt and paying the cost of borrowing (interest). Only the interest is an expense.
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.