Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowI have my LOC set up as "Other Liabilities". When I go to reconcile, and add the interest, my expectation is that it would increase my liability. Instead it treats it as a reduction of liability. It also creates a Journal Entry, which is confusing to me. If I understand this correctly, it is trying to pull funds from another account.
I just want to add interest to this account. Can someone please suggest the correct way to do this, or help me understand why this current way is correct?
Thanks in advance
"I just want to add interest to this account."
The attached journal entry is doing that. It is increasing your interest expense (debit) and increasing your LOC liability balance (credit) by the same amount. All you need to do now is to assign the payment to your LOC liability account and you should be all set.
Thank you!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here