Line of credit
A bank facility you draw on and repay. Tracked as a liability bank account; statement payments split into principal, interest and fees.
In Solo Superstars
Add it as a liability account and import its statements. Each payment line is split three ways automatically so interest shows as its own expense.
Example
A $520 payment: principal 500 to 2410, interest 20 to 9000, from 1010 Checking.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- LOC
- credit line
- revolving credit
Related
- 2410 Line of Credit — The outstanding principal on a revolving business line of credit. A liability that goes up when you draw and down when you repay.
- 9000 Interest Expense — Interest paid on loans, credit cards and lines of credit. An "other expense", below operating expenses.
- Statement import — Uploading a bank or card statement (CSV or PDF). The importer checks that opening balance plus activity equals the closing balance before anything is saved.