Re: Need help to set up a long term loan in QBO? I read the instructions: * On the second line, select the appropriate asset account from the Account dropdown.*
Need help to set up a long term loan in QBO? I read the instructions: * On the second line, select the appropriate asset account from the Account dropdown.*
The asset account - this loan will be used for whatever we need - payroll, job supplies, etc What asset account would that be?
Need help to set up a long term loan in QBO? I read the instructions: * On the second line, select the appropriate asset account from the Account dropdown.*
In this case the asset account would be the bank account you put the money in
I dislike those instructions, I prefer
create the loan liability account, zero balance
make a deposit and use the loan liability account as the source account for the deposit
Need help to set up a long term loan in QBO? I read the instructions: * On the second line, select the appropriate asset account from the Account dropdown.*
Thank you Rustler for the reply and help. Is there any chance you could post some screenshots or images to ‘see’ what you are saying about setting this up? Thanks
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