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dira
Level 1

Proper bookkeeping

I loaned a subcontractor money and wrote a check as a loan. Now he sent me a bill for work done and I entered it as I usually do by entering bill.

How do I put the money owed towards the loan?

Solved
Best answer April 30, 2019

Best Answers
Rustler
Level 15

Proper bookkeeping


@dira wrote:

The loan to him was put in two months ago. Now he did work for me and I need the bill he gave me to go against the loan he owes me


your bill should look like

 

job expense account, $567, (customer name, billable yes/no optional)

loan account, -$567

total due zero

save it

done

View solution in original post

6 Comments 6
Rustler
Level 15

Proper bookkeeping

on the bill, in the account details part, select the loan account and enter the amount as a negative number, save

dira
Level 1

Proper bookkeeping

I still need it to keep track of Sub-contractor expenses per job.... It also doesn't allow me to enter a negative bill, you can only do that through a credit

Catherine_B
QuickBooks Team

Proper bookkeeping

Thanks for the additional information, dira. 

 

As recommended by Rustler, you enter the loan as a negative amount on the bill. Here's how you record the bill:

  1. Enter the expense or bill given by your sub-contractor as a positive amount.
  2. On the second line, a negative amount for the loan.
  3. Then, Save and close.

 

Let us know if you have further questions. We're here to help! 

dira
Level 1

Proper bookkeeping

The loan to him was put in two months ago. Now he did work for me and I need the bill he gave me to go against the loan he owes me

Rustler
Level 15

Proper bookkeeping


@dira wrote:

The loan to him was put in two months ago. Now he did work for me and I need the bill he gave me to go against the loan he owes me


your bill should look like

 

job expense account, $567, (customer name, billable yes/no optional)

loan account, -$567

total due zero

save it

done

dira
Level 1

Proper bookkeeping

Thank you!

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