Hi, I got the bounce bank loan. When I run the P&L (using cash basis) it says unapplied cash bill expense. This is to do with the bounce back loan. How to fix this?

Hello Judy6, Thanks for posting on the Community page So we just need to query if the loan has been set up with an opening balance or not? If so then either the bill or the journal needs to be deleted. If no opening balance on the loan then the bill is the opening balance and any payments then will reduce the loan balance as long as the bill has the loan in the category. We would advise that you speak to an accountant as well if you're unsure as we are just technical support not trained accountants.