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Replying to:
KhimG
QuickBooks Team

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Hello, @JillP34.


Thanks for coming to the Community for help.  I can help you record the loan in QuickBooks Online.


As mentioned above, you would need to set up an Other Current Asset account called Employee Cash Advance or Payroll Receivable.

Here’s how:
1.    Go to Accounting from the left menu and select Chart of Accounts.
2.    Click New.
3.    On the Account Type field, select Other Current Asset.
4.    Under Detail Type, choose Employee Cash Advances.
5.    Enter name.
6.    Hit Save and Close.

 

 


Once done, write the advance check by debiting the new account and crediting Cash. When deducting from your employee’s pay, credit the new account and debit Payroll Payable.


That should answer your question for today. Let me know if you need further assistance working with QuickBooks, I’ll be here to help. Take care and enjoy your day!

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