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M
mortonsafetyserv
May 7, 2024
Question

How do I categorize a transaction that is money coming into the bank account that is a loan?

  • May 7, 2024
  • 1 reply
  • 0 views
The liability account is already created with a balance created with a journal entry. I am now categorizing my bank transactions and need to categorize a handful of transactions for this loan. To be clear, the money was sent via etransfer to my company from another company as a loan.

1 reply

J
JamesM4
May 7, 2024

Hi mortonsafetyserv,

 

Glad to have you as a new member in the Community. I'll be happy to share more info so you're on the right track with your work. 

 

Categorizing your transactions the right way is essential for ensuring your books remain accurate. That said, I recommend consulting an accounting specialist for expert advice. This ensures your entries are recorded in a way that allows for you to navigate the program with peace of mind. You can get in touch with an accounting professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in. In the meantime, feel free to check out this article that shows you how to:  Categorize and match online bank transactions in QuickBooks Online. Here's a helpful article that shows you how to: : Set up a loan in QuickBooks Online.

 

Let me know if this info helps. I'm here to steer you in the right direction.

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