cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Not applicable

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.

Need to get in touch?

Contact us