FFCRA and CARES Acts including the PPP

Thanks for posting in the Community space, @Hosey.

I'm here to help share information on how to record the loan payments in QuickBooks.

If you haven't set up a liability account to record the loan, here's how:

1. Go to the Gear icon then select Chart of Accounts.
2. Select New to create a new account.
3. Set the Account Type to Other Current Liabilities or Long Term Liabilities depending on the type of your loan.
4. Choose Notes Payable as Detail Type.
5. Enter the name of the loan.
6. Click Save and Close.

Once done, record your loan by creating a journal entry. Here's how:

1. Go to +New, then Journal entry.
2. On the first line, select the liability account under the Account column. Enter the loan amount in the Credits column.
3. On the second line, choose the asset account or the appropriate account. Enter the loan amount in the Debits column.
4. Click Save and close.

After that, record your loan payment by creating an expense or a check.

1. Go to the + New icon.
2. Select Check under Vendor.
3. If you send an actual check, enter the check number. If you pay online, use direct withdrawal, or EFT, enter Debit or EF" in the Check/Cheque # field.
4. Enter the following information in the Category Details section.
   1. First line: Liability account for the loan and the amount of payment.
   2. Second Line: Expense account for the interest and the amount.
   3. Additional lines: Any additional fees along with the appropriate accounts.
5. Select Save and close.

See this article for reference: Record a Loan and Its Payment.

I've also added our Employees and payroll taxes page. It provides help article that might help you navigate your account and answer your How do I question in QuickBooks.

Let me know if there's anything else at all I can do for you. Take care.