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How to receive cash for loan repayment to business?

 
1 Comment
QuickBooks Team

Re: How to receive cash for loan repayment to business?

Hi there, @jeffbroline.

 

Welcome to the Community family. I'd be happy to walk you through on how to receive cash for loan repayment to business in QuickBooks Online.

 

Here's how:

  1. Select the Plus icon (+) at the top.
  2. Under Vendors, choose Check/Ch
  3. Add a check number if you send an actual check. If you use direct withdrawal of EFT, type in Debit or EF in the Check/Check # field.
  4. Enter the following information in the Account details section.  (First line: Liability account for the loan and the amount of payment) (Second Line: Expense account for the interest and the amount) (Succeeding lines: Any additional fees along with the appropriate accounts.)
  5. Select Save and close.

To learn more about this process, please refer to this article: Record a loan and its payment.

 

If you need additional assistance with this procedure, feel free to reach out our Customer Care Team. They have extra tools like screen-sharing that can help you with the steps.

 

To reach them:

  1. In your browser, navigate to https://help.quickbooks.intuit.com/en_US/contact.
  2. Choose QuickBooks Online.
  3. Select the issue or topic.
  4. Click the Green Phone button to see the support number.

This should get you on track.

 

Don't hesitate to let me know if there's anything else you need. I'm always here to help. Have a nice day!

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