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GlinetteC
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I've got all the information needed to record the loan amount in QuickBooks Online, Alund89.

 

First, you'll have to set up a liability account for the things you owe. Let me show you how:

 

  1. Go to the Settings icon at the top.
  2. Under Your Company, select Chart of Accounts.
  3. Click New to create a new account.
  4. From the Account Type dropdown, you can select Long-Term Liabilities.
  5. From the Detail Type dropdown, select Notes Payable. You can also change the name to something more relevant to the loan.
  6. Then determine the date you want to start tracking your account in the dropdown that says When do you want to start tracking your finances from this account in QuickBooks? In the Balance field, enter the amount in the account, and determine the as-of-date.
  7. Click Save and close.

 

Next, you may want to put the received loan money into your bank account. You can do it by creating a Journal Entry. You can check this article for the detailed steps of Steps 2 & 3: Set up a loan in QuickBooks Online.

 

You may also consult with your accountant for further guidance and other options. 

 

Keep me posted if you have other questions about using QuickBooks to manage your loan and other business-related transactions. The Community and I are always here to help.

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