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Aug 7, 2022 4:49 PM UTC
Question

Looking for a section for directors loan account in quick books.is there one?

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1 reply

Aug 7, 2022 8:05 PM UTC

Hello there, cjnelson7-virgin.

 

In QuickBooks Online, we'll have to set up an equity account. This account lets you see what someone invests and makes from a business. To find this section, we can go to the Chart of Accounts. 

 

  1. Go to the Accounting menu and select Chart of Accounts.
  2. Select New.
  3. From the Account Type ▼ dropdown, select Owner's equity.
  4. From the Detail Type ▼ dropdown, select Owner's Equity or Partner's Equity, depending on your situation.
  5. Save and Close.

 

After creating this account, I suggest reaching out to your accountant for further guidance when recording an account. This ensures you enter everything correctly and avoid messing up your books. 

 

We can check these articles for more details:

 

 

Don't hesitate to comment below if you have questions about creating accounts and find other information in QuickBooks. Take care.