Thank you for your response, Bangers11,
There are multiple ways on how you can offset loan in QuickBooks Online and it can be done by creating a journal entry or enter it as a deduction on a pay run. If you prefer to enter it via journal entry, we recommend reaching out an accountant to confirm the posting of accounts and accuracy on your reporting.
However, if you prefer to enter it as a deduction on a pay run, you'll need to set up a deduction category. Here's how:
- Go to Employees tab and select Payroll Settings.
- Select Deduction Categories.
- Select Add and enter a Name for the deduction.
- Enter the Deduction Type and any other relevant fields, then select Save.
For more detailed information, you can check on this article: Set up employee deductions.
Message us back if you have any other questions. Have a nice day!
