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March 21, 2021
Question

In our country , all transactions are manually added. My manager took a loan from the bank account. I opened a current asset act with loan to officer. is that good ?

  • March 21, 2021
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1 reply

Kristine Mae
March 21, 2021

Let me walk you through with setting up a loan, Sobahamdoon-effa.

 

Instead of a current asset account, you'll have to set up a liability account to record the loan and its payments. We enter it as a liability since it's money your manager owes. They're debts. 
 

For the detailed steps on setting up a loan, you can refer to this article: Set up a loan in QuickBooks Online.

 

If you have more questions, don't hesitate to let us know. We're just one comment away. Take care!