Overdraft Line of Credit

I'll walk you through how you can set up a credit line in QuickBooks Desktop, @ww_94.

Here are the easy steps.

1. Go to Lists at the top. Then, select Chart of Accounts.
2. Scroll down and tick the Account drop-down. Tap New.
3. Tick the Loan radio-button. Then, Continue.
4. Enter the name of the credit line account in the Account Name field and the Account No.
5. Click Save & Close.

After creating the account, you can Transfer Funds to track your line of credit. Just go to Banking and then Transfer Funds. You can also use the same expense account for your interest or charges or you can create a new one. 

Here's a guide to learn more about accounts: Add, edit, or delete accounts in QuickBooks Desktop.

Feel free to also browse this link if you need help with other tasks in QBDT. Just look for topics that suit your concern.

Let me know if you still have questions or concerns with bank accounts. I'm more than happy to assist you every step of the way. Take care and have a great weekend.

Thank you for your response! Since this is "Overdraft Protection" that is given by my bank, can you put the "Credit Amount" as a starting balance and will it continue to remain there? 

(i.e. Bank credit line is $1,000.00. You put this as your starting balance. You overdraft your account by $50.00. The bank pays the $50.00 and charges you $10.00. You then "Transfer" the $50.00 (principle) and "Transfer" the $10.00 (interest) to your checking account, leaving a $60.00 negative to your "Credit Amount". Then, you "Transfer" back the $60.00 from your "Checking Account" to your "Credit Amount" and it will show the original $1,000.00 "Credit Amount/Balance?