Thanks for coming back, rgstg.
You can transfer the funds from your LOC accounts to the other bank account that is connected to QuickBooks Online (QBO).
Here's how:
- Click the + New Plus button.
- Under Other, select Transfer.
- From the Transfer Funds From the drop-down list, choose the bank account that the funds are coming out of.
- From the Transfer Funds To drop-down list, select the bank account the funds are being deposited into.
- Enter the amount being transferred in the Transfer Amount field.
- Edit the Date.
- Tap Save and close.
For more details about this one, check out this article: Transfer funds between accounts.
You can also make a bank deposit to match the transaction in your bank account connected to QBO. Just follow the steps and details in this article:
On the other hand, QBO is unable to connect a loan account through the Banking menu. For recording a payment made from a line of credit to a vendor, we enter the transactions manually.
To record a payment to your line of credit, just follow the steps in this article: https://quickbooks.intuit.com/learn-support/en-us/bank-feeds/record-a-payment-to-your-line-of-credit....
Since funds are transferred from the bank providing credit directly to a third party, it would be best to contact your accountant. They'll help you on how to best handle this one in your account. They'll also guide you with other ways on how to record the draw taken against a line of credit.
To learn more about the line of credit, refer to Set up and track a line of credit article.
Fill me in if you need a hand with reconciling your account or any QBO related. I'll be here to help. Take care always.
