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Square Capital loan

Hi, We recently took out a Square capital loan. I am having a hard time booking this because the total amount of the loan deposited into our bank is $9250 the total repayment amount $10,175

 

The issue i am confused about is they take the repayment out of our cc sales. SO our bank is connected to QB online and daily Square depots are net after fees, and loan repayment daily amount. How can i add this loan correctly, and how do i account for the repayment interest and the payments? thanks 

1 Comment
QuickBooks Team

Re: Square Capital loan

Hello there, @jaytronixx,

 

You can add the loan repayment and interest by resolving the difference on your downloaded transaction. By doing so, you'll be able to change the amount or add a new transaction when necessary.

 

Here are the steps to achieve this:

  1. From the left menu, select Banking.
  2. Go to the For Review tab. downloadedtransaction1.PNG
  3. Select the transaction by clicking it.
  4. Choose the Find match option to bring up the transaction. downloadedtransaction2.PNG
  5. Enable Resolve Difference.
  6. Once done, click Savedownloadedtransaction3.PNG

For other troubleshooting steps, feel free to read through this article: Add and match downloaded banking transactions.

 

After following the solution above, you can start adding transactions to QuickBooks by clicking the Add button. 

 

Let me know how this goes by leaving a comment below. I'm always around here in the Intuit Community whenever you need clarifications.