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Join nowHow do I add an account/loan for transferring funds?
Sending good vibes to you, klkel632.
I'd be glad to provide you with easy steps on how to add a loan account in QuickBooks Desktop.
To track a loan payable, you need to create a liability account.
Here's how:
Record the loan amount:
Record loan payments:
You can check out this article for figures and detailed steps: Manually track loans.
As always, you can contact our customer care agents if you'd like someone to be with you as you go through these steps. Our contact details can be found here along with our opening hours:
This will get everything nice and organized in your QuickBooks Desktop. Let me know if there's anything else you need. Have a great rest of your day.
We received a loan. I created the COA for the long term liability, created a Journal Entry for the amount of the loan on one side and going in to the bank on the other. However, the amount on my COA for the long term liability (from the Journal Entry) does not reflect the Interest Amount that we will end up repaying. How can I fix this?
I did create an Interest Expense Account for the Loan.
Hi SpecRefPremier,
You can edit your journal entry and add your interest amount from there. Let me guide you how.
Also, you can pull up a journal report to see your journal entries. Here's how:
See attached screenshot below.
You can refer to this article about creating a journal entry for details.
I've also added our page about banking and bank feeds for some help articles for your future tasks.
You can always post anytime if you have other questions.
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