Bill Jacqmein 401K loan

Andrew Sackville-West andrew at
Wed Dec 28 19:39:40 EST 2005

brydone at wrote:
> If the loan is for principal only, I think the simplest entries are this
> when setting up your account:
> Loan Account  Cr401,000 (owing your lender)
> Bank Account         Dr 401,000 (putting money into your account from
> lender)
> ------------------------------------

ummm... I think OP was refering to a loan from his 401k retirement 
account. your explanation was good, but do you have one for this 
application? He has to track it both in his bank/liability accounts but 
also within his 401k account as some of his liquid assets in that 
account will be turned into a loan...


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