Record every accommodation the aggregation makes in QuickBooks, such as a accommodation to a chump to pay off his accounts receivable balance. Actualize a accommodation annual to clue the accommodation and access the transaction that grants the loan. Adjust added accounts, such as accounts receivable, depending on how the accommodation was used. Actualize the accommodation arch and absorption payments as abstracted band items anniversary time the aggregation receives a acquittal for the loan.
Actualize Accommodation Annual
Click the “Chart of Accounts” figure in the Aggregation area of the home screen.
Click “Account” from the card and accept “New.” Baddest “Other Annual Types” and accept “Other Current Asset” if the accommodation will be repaid this year or “Other Asset” if it won’t be paid this year. Bang “Continue.”
Enter a anecdotic name for the account, for example, “Loan – John Q. Customer.” Access added advice to call the accommodation in the Description box. Bang “Save & Close” to actualize the account.
Actualize Accommodation Transaction
Record the accommodation bulk with a annual entry, for archetype to bright the customer’s receivables antithesis with the loan. Almanac the accommodation bulk with a analysis if you’re lending banknote to the customer.
Click the “Journal Entry” figure to almanac the accommodation with a annual entry. Accept the date of the loan.
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