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Level 1

What account should an employee loan go under?

 
2 Comments
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Level 15

What account should an employee loan go under?

Assuming the loan is from the company to the employee, it is an asset account

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QuickBooks Team

What account should an employee loan go under?

Hey there, @sgizowski.

 

It's always great to see a new face in the Community. I can help you clarify what account an employee loan should go in. 

 

For you to get the best answer to your question, I recommend reaching out to your accountant. They can explain and visually show you what account to put the loan. 

 

Before you go, I did want to give you the steps on how to create a chart of account:  

 

1. Access your Chart of Accounts.

2. At the bottom, select Account and then New.

3. Choose the Account Type then Continue.

4. Enter the name and an optional account number.

5. Add an Opening Balance if applicable. Quicktip: You can add the opening balance at a later time by creating a general journal entry

6. Click Save & Close.

 

If you have any questions, please don't hesitate to ask. Have a great day! 

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