Auto payment is a reduction in loan liability plus an interest expense. It is not an expense all by itself. You need two things. An asset account for the purchase of the auto, and a loan liability account for the financing. When you make payment a portion reduces principal.
Resolution for 'automobile payment issue: 'What expense category is automobile payment?' available: Yes.
The automobile payment issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the automobile payment issue yourself by looking for a resolution described in the article. If it is a complex automobile payment issue or you are unable to solve the issue, you may contact us by clicking here or by using other automobile payment support options.
For more information about resolving issues related to automobile payment in Quickbooks/QBO or to get support for the issue 'What expense category is automobile payment?', click the link below: