No need to record the EIDL grant if you didn't take the lone, @mac2it.
Then, to enter PPP loan in your QuickBooks Desktop (QBDT) for Mac, you’ll need to set up a liability account. I’d be glad to guide you through the steps.
- Go to the Lists menu.
- Select Chart of Accounts.
- Click the Plus (+) icon to add a new account.
- From the Type field, select the account for your loan:
- Other Current Liability: for short-term loans payable over one year.
- Long Term Liability: for long-term loans payable over a longer period.
- Enter the name and number for the account.
- Leave the opening balance at zero.
- Then simply click OK.
Once done, create a vendor for the bank or company you need to pay for the loan. Here’s how:
- Go to the Vendors menu.
- Select Vendor Center.
- Click the Plus (+) icon, then select New Vendor.
- Enter the name of the bank or the company you need to pay for the loan.
- Enter other vendor details such as phone number and email address (Optional).
- Then click OK once done.
You can also check the QBDT for Mac section in this link for more details and additional steps in recording loans in QBDT: Manually track loans in QuickBooks Desktop.
I’m also adding this article that you can read to learn more how to keep track of your loan: Track how you use your Paycheck Protection Program loan.
Fill me in if there’s anything else you want to ask in recording your loan. I’ll be more than happy to help. Take care and always keep safe!
