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.
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.
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.