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Community Contributor **

Convertible Note

How to account for several convertible loans I'll be receiving. How do i set up the chart of accounts for it? Is the Detail type "notes payable" or should it be "Other long term liability "? Should I set up an account for each amount received?

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Established Community Backer ***

Re: Convertible Note

I would choose Notes Payable and set up separate account for each Note.