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kj_teo
Level 1

Transfer of loan

We have a loan from a company. One of our shareholders has bought the note and will continue to lend us the funds. How shall this be entered in QB?

Solved
Best answer January 15, 2020

Best Answers
JasroV
QuickBooks Team

Transfer of loan

Hello there, @kj_teo.

 

You'll want to enter the shareholder name in the memo field when recording a loan payment. Here's how.

 

In your QuickBooks Desktop (QBDT) Mac:

  1. Go to the Banking menu and select Write Checks.
  2. Choose the Bank Account you'll use to pay the loan.
  3. In the Pay to the Order of field, select the name of the bank.
  4. Enter the shareholder's name in the memo field.
  5. Fill in the needed information.
  6. Once done, click Save & Close.

Here's an article you can read for more details (read QuickBooks Mac Desktop section step 4): Manually track loans.

 

If you want more tips on how to better record this, I suggest getting in touch with your accountant. That way, you'll be guided accordingly.

 

Also, you might want to check this article that can guide fix reconciliation discrepancies in your QBDT Mac.

 

If you need more help with managing your transactions, don't hesitate to leave a comment. You can always count on us. 

View solution in original post

2 Comments
JasroV
QuickBooks Team

Transfer of loan

Hello there, @kj_teo.

 

You'll want to enter the shareholder name in the memo field when recording a loan payment. Here's how.

 

In your QuickBooks Desktop (QBDT) Mac:

  1. Go to the Banking menu and select Write Checks.
  2. Choose the Bank Account you'll use to pay the loan.
  3. In the Pay to the Order of field, select the name of the bank.
  4. Enter the shareholder's name in the memo field.
  5. Fill in the needed information.
  6. Once done, click Save & Close.

Here's an article you can read for more details (read QuickBooks Mac Desktop section step 4): Manually track loans.

 

If you want more tips on how to better record this, I suggest getting in touch with your accountant. That way, you'll be guided accordingly.

 

Also, you might want to check this article that can guide fix reconciliation discrepancies in your QBDT Mac.

 

If you need more help with managing your transactions, don't hesitate to leave a comment. You can always count on us. 

View solution in original post

kj_teo
Level 1

Transfer of loan

Thanks!

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