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S Hartland
February 26, 2020
Solved

Bank Loan recording on QB On-Line?

  • February 26, 2020
  • 1 reply
  • 0 views

Hi

Recently took a Natwest bank loan for a new van (Natwest is the business bank as well). They have created a new account with the loan amount as a negative and transferred the full loan amount into the current account, where it has been used for said van purchase.

 

So I've searched how to record this, I'm a bit of a numbty with regards this and getting confused, I see replys saying record in Cahrt of Account "Long Term Liabilities" but that option isn't there?

 

Then I need to record the repayments

Best answer by emmam6

Hello  S Hartland and our Community users👋, To create the chart of account for the bank loan you can go to book keeping on the left had side menu or the settings cog in the top right >Chart of accounts> new> Account type> current liabilities>Detail type> Current liability or if a loan is going to be paid off over longer than 12 months select Account type>Non current liabilities> Detail type>Other Non current liabilities.

1 reply

B
Becky29
February 26, 2020

Hi 

If the option is not there for a long Term Liability account you will need to create the account.To create an account please see link. Any issues please let us know. Thanks 

S
S HartlandAuthor
February 28, 2020

Hi

 

This is my problem, I followed your link, which is the same procedure I've seen before, but when I do the following

  1. On the right, click New.
  2. Select either Other Current Liabilities or Long-term Liabilities.

1. On the right, click NEW

2. Select either OTHER CURRENT LIABILITIES 

Neither of these are there????

P
payment after leaving
February 28, 2020

Hi S Hartland

 

It could be a browser related issue, what browser are you using? It could be the type of user you are on the account, what type of user, regular, admin or master admin? We would be grateful if you can provide us with a screen shot of when you select new and then the drop down menu in the account type field.

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