Please feel free to leave a comment below if you have other concerns about recording loans and income/expense transactions in QBO. It includes help articles, Community discussions with other users, and video tutorials, to name a few. Īlso, you may want to check out one of our Help pages as your reference to guide you in managing your business growth and transactions in QBO: QuickBooks Learn and Support. Whenever youre ready to set up a liability account, follow these steps: Go to Settings. Then, when you're ready to record payments made for the loan, please see Step 3 in this article: How to record a company loan from a company officer. Once you're done, create a journal entry to record the loan and expenses for year-end reporting and tax purposes.
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