Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowHopefully you only set up the loan as a blank account. Next, like any loan proceeds, make a deposit into banking fro the loan. If you set it up with a beginning balance (which is wrong) you would need to either delete and start over or create a deposit to move the beginning balance from equity to banking
I need more detail than that. I am using Quickbooks online. I went in to chart of accounts.. "new" long term liabilities , named the load, enter the amount of loan. That's where I am .
Hello alabamarolltide,
As per john-pero's advice, we can set up the loan account without any balance and create a deposit. Here's how to continue where you're in right now:
Then, here's how to create a deposit for the loan:
If you have an incorrect beginning balance of the account, you have two options, You can do either of the following:
Here's how to delete or edit the amount of the beginning balance:
Create a bank deposit will increase the bank balance. Here's how to create one:
If you have additional queries of the process, you can always get back to us. Have a great day!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.