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Replying to:
LieraMarie_A
QuickBooks Team

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Hello again, @vcbkpr. I'll help you record the loan from one location to another.

 

You can use a journal entry to help you record these kinds of entries in your books. You can create a separate loan payable account for the location to track the loan you need to pay for each. I recommend speaking with an accountant to learn the best way to record the transfer and how to set up your journal entry.

 

Here's how:

  1. Click the + New button.
  2. Select Journal entry.
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  3. On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
  4. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
  5. Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
  6. Enter information in the memo section so you know why you made the journal entry.
  7. Select Save and new or Save and close.

 

QuickBooks can help when it comes to working with an accountant. Using the My Accountant tab, you can invite an accountant you're already working with to be a user in your books so they can work on the transactions directly. That same tab also provides you with the Find a pro to help button. This connects you to our directory of QuickBooks-certified accountants near you. 

 

When you're ready to pay back the loan, refer to this article: Set up a loan in QuickBooks Online.

 

Don't hesitate to visit us again if you require further assistance, @vcbkpr. The Community is always here to help. Have a great day.

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