Our Nonprofit got a $150K EIDL loan that was just deposited to our "Base" Bank account by the SBA.  Here are the steps that I took to record it in QB 2019 Premier Desktop Nonprofit version:

1) Called our bank and got a new bank account setup for the EIDL funds.

2) Transferred the $149,900 that came from the SBA (minus the $100 UCC filing fee) into the new bank account.

3) In QuickBooks, created a new Bank account for that EIDL funds account.

4) Created a new Long Term Liabilities account for that loan.

5) Created a new Expense account for the loan repayments (they won't start for 1 year, but I wanted that ready to go now).

6) Created a new Vendor account for the SBA who made the EIDL loan.

7) Made a Bank Deposit in QB as shown in the attached screen capture:

- "Received from" is the SBA EIDL vendor

- "From Account" is the EIDL Loan account (Long-Term Liabilities)

- "Memo" is "EIDL Loan Deposit from SBA" or words to that effect

- "PMT Method" is EFT or whatever you want to use

- "Class" (we're a nonprofit) is Restricted Income - but could be a special Class setup for EIDL funds

- "Amount" is $150,000.00

Then add a second line for the UCC Filing fee:

- "Received from" is the SBA EIDL vendor again

- "From Account" is the Finance Charges account that you probably already have setup for other finance charges

- "Memo" is "UCC filing fee by SBA"

- "PMT Method" is EFT or whatever you want to use

- "Class" is Administrative Expenses (or a special class for EIDL-paid expenses)

- "Amount" is -$100 (a negative amount!)

That leaves a net deposit of $149,900 - the amount that was actually deposited from the EIDL loan.

Now our balance sheet shows a new bank account with $149,900 in it and a new Long-Term Liabilities account with a $150,000 balance.

Cheers,

David G.