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Line of credit

How do I set up the line of credit? Ive seen several other posts but none has been clear to me. I need to set it up and then be able to reconcile it with our bank statements. 




1 Comment
QuickBooks Team

Re: Line of credit

Hello Jstanphill,


Welcome to the Community. I'm here to lend a hand with setting up the line of credit in QuickBooks Desktop.


You can set up Line of Credit by creating the account through your Chart of Accounts. 


Here's how:


  1. Click the Lists tab at the top menu bar.
  2. Select Chart of Accounts.
  3. Click the Account drop-down at the bottom.
  4. Click New.
  5. Choose Loan, and click Continue.
  6. Enter necessary information.
  7. Click Save & Close.

Please check out this screenshot:


Once you're ready to record the loan payments, you can use the Write Checks feature from the Banking section. For more information, I'm also attaching an article that I found helpful on this:


Manually track loans.


Let me know if you have additional questions concerning the process. I'll be here to lend a hand.

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