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Need to speak with a Quick Books rep concerning my loan

 
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Need to speak with a Quick Books rep concerning my loan

I'm here to help, kkasnett.

 

If you're referring to recording a loan in QuickBooks Online (QBO), you'll have to set up a liability account to record loan and its payments. I'll guide you how.

 

  1. Go to the Gear icon and choose Chart of Accounts.
  2. Click on New.
  3. Select Long Term Liabilities from the Account Type drop-down arrow. If you plan to pay off the loan by the end of fiscal year, choose Other Current Liabilites.
  4. From the Detail Type drop-down arrow, select Notes Payable.
  5. Enter the name.
  6. Choose when you want to start tracking your finances from the ▼ drop-down arrow.
  7. Enter the full loan amount as a negative amount in the Amount field. Since the future payments to the bank are a liability for your business, the amount should be negative.
  8. Click on Save and Close.

To record the loan payment, refer to this article: Set up a loan in QuickBooks Online.

 

I'm also linking an article in case you're trying to record a loan for assets. For more details, check this link: How do I record the loan for an asset?.

 

Otherwise, you can schedule a callback from one of our experts if you're referring to your QuickBooks Capital loan. You can go to this link: https://quickbooks.intuit.com/capital/faqs/. Just scroll down to the bottom and click on Schedule a call.

 

You can leave a comment if you have further questions. We're always around to help.

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