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Everything you need to know about banking in QuickBooks Online - Discover more
Reece gent
Level 1

Need help catorgrising a transaction

Bounce back loan transaction. I have set up standing order to repay the loan and obviously its coming up saying i need to catorgrise the transaction
QuickBooks Team

Need help catorgrising a transaction

Hello Reece, Thanks for getting in contact with the Community, we'd be happy to help with the categorisation. How have you categorised the loan in Quickbooks? Is it a liability that you're decreasing as you make installments? 

Level 3

Need help catorgrising a transaction

Hi, when you would have received the BBL into your account, on QBO it should have been deposited to Other loans under Current Liabilities.  When repayments are made to this Bounce Back Loan, it will be catergorised to the same code - Other loans under current liabilities.  This will then reduce the amount of loan owed.


Hope that helps :)

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