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June 27, 2021
Question

Hi team, I have a loan business. I would like to know how to set up customer accounts. How to track when they are paying back. Thank you

  • June 27, 2021
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1 reply

JasroV
June 27, 2021

It's my pleasure to help you in running your loan business seamlessly, @moifferfinance-g.

 

To get started, let's add your customer to your QuickBooks Online (QBO) account. By then, you can now record and track their loans. Let me walk you through the process.

 

  1. Go to the Sales menu.
  2. Select the Customers tab.
  3. Click Add customer manually.
  4. Enter your customer's information.
  5. Then click Save.

 

Then to record your customer's loans and track their payments, you can refer to the steps outlined in this article: Track customer loans. This consists of options on different ways of recording it. I'd also suggest working with your accountant for additional guidance to prevent messing up your records. 

 

I've also added this resource that you can utilize in reconciling your accounts: Reconcile an account in QuickBooks Online. This can guide you through the steps in ensuring your accounts is well matched.

 

Stay in touch if you need further assistance tracking your loans or any QuickBooks-related issue. I'm always around to help you out. Keep safe and more power in your business!