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Level 1

Loan Manager does not show 'Other Liabilities Accounts'

Hi want to record a new loan in the loan manager. 

 

When I select the 'Add a Loan' option.  The first dialog with 'Account name'  does not show the 'Other Current Liability' account I set up for my loan.  

 

I have done the following. 

1) In chart of accounts.  Created an account 'RLA-Loan' Other Current Liability

2) Deposited a check in to my checking account, and assigned it the the 'RLA-Loan' account

3) The chart of account shows the deposit.

4) Open Loan Manager, select Add a Loan, Select the dropdown for 'Account Name'

But the RLA-Loan account is not listed so I can not create a loan. 

 

What am I missing?  I have done this in the 2015 version. I recently upgraded to 2019 and now this function does not appear to work or I need to enable something that I am not aware of. 

 

Can anyone help? 

Solved
Best answer 05-07-2019

Accepted Solutions
QuickBooks Team

Re: Loan Manager does not show 'Other Liabilities Accounts'

Hello there, @rarrigo,

 

Thanks for sharing what you've found out and the steps to resolve the issue. I'm here to share answers to your follow-up questions.  

 

The program allows you to track the loan amount and record payments so you can only use a loan account one time. This is the normal behavior for these account types.

 

The screenshot below will show you that the loan accounts under the Loan List aren't included on the Account Name drop-down when adding a loan. 

 

 

For more information about tracking loans in the system, you can check out these helpful articles: 

 

 

This will get you on the right path, @rarrigo

 

I'm here anytime you have other concerns. Have a great day. 

View solution in original post

3 Comments
Moderator

Re: Loan Manager does not show 'Other Liabilities Accounts'

Good day, rarrigo.

 

I appreciate you performing some troubleshooting steps to resolve this. Let's work together so that the Other Liabilities Accounts will show up in the QuickBooks Loan Manager.

 

It's possible that your company file has damaged data. The damage can be repaired by re-sorting your Chart of Accounts. To do so, please follow these steps:

  1. Go to Lists and choose Chart of Accounts.
  2. Click on the Account drop.
  3. Choose Re-sort List.
  4. Click on OK
  5. Then, close and reopen QuickBooks for the changes to take effect.

Try recording the loan again in the Loan Manager. Otherwise, I recommend running the Verify and Rebuild Utility tool if the issue persists.

 

For further guidance, you can check out this article that will help you out: Verify and Rebuild Data in QuickBooks Desktop.

 

The liability should now show up after following these steps. Leave a message below on how it turns out. I want to ensure this matter gets resolved.

Level 1

Re: Loan Manager does not show 'Other Liabilities Accounts'

Hi JaneD,

 

Thank you for your reply.  I tried both of your suggestions and neither one worked.  However, after working on the problem a bit more I think I found out what I was doing wrong or at least I think I have. 

 

I already had a 'Other Liabilities Account' set up for a short term loan that I had paid off last year.  I though I could reuse the same account for a new loan.  So I deposited funds into this same account for a new short term loan.  This did not seem to work, as the account would not show up in the dialog. 

 

I created a new 'Other Liabilities Account' for the new short term loan and this one appeared in the loan manager dialog.  I was then able to set up the new loan using this new 'other liabilities account'  that I created.  

 

So, I got it working.  But, I am wondering is this normal behavior for these types of accounts?  i.e. , you can only use a loan account 1 time? 

 

Also, I found that if I created a higher level Other Liabilities Account, and placed these short term loans under the higher level account, they did not show up in the loan manager either.  Seems the accounts must be at the first level or they do not show up. 

 

Either way, I was able to get this to work.  Thank you again for your help, it got me moving in the right direction. 

 

Ron 

QuickBooks Team

Re: Loan Manager does not show 'Other Liabilities Accounts'

Hello there, @rarrigo,

 

Thanks for sharing what you've found out and the steps to resolve the issue. I'm here to share answers to your follow-up questions.  

 

The program allows you to track the loan amount and record payments so you can only use a loan account one time. This is the normal behavior for these account types.

 

The screenshot below will show you that the loan accounts under the Loan List aren't included on the Account Name drop-down when adding a loan. 

 

 

For more information about tracking loans in the system, you can check out these helpful articles: 

 

 

This will get you on the right path, @rarrigo

 

I'm here anytime you have other concerns. Have a great day. 

View solution in original post

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