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Emma_5
June 29, 2023
Question

Entering customer payments to a loan

  • June 29, 2023
  • 1 reply
  • 0 views

Here's my dilemma, 

The company I work for borrowed a loan from another company, who happens to be a customer of ours.

We completed a large project for them and now need to take their invoices and mark them as paid and take that amount off of the loan that's been already recorded in QB as a liability.

I started by going to pay the bill however no actual funds have crossed; which means I can't select any of the payment options and still reconcile at the end of the month.

How to I mark the 4 invoices paid and mark the loan as being partially paid off?

 

1 reply

J
JamesM4
June 29, 2023

Hello Emma_5,

 

Welcome to the QuickBooks Community. QuickBooks is an easy-to-use program that helps you to manage your accounting with the accuracy you need to be ahead with your work. I'll be glad to share more info so you're on the right track with your work. 

 

In order to accurately record your transactions, I highly recommend consulting an accounting specialist for expert suggestions. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a 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. Otherwise, you can mark the invoices as paid by following this helpful article that shows you how to: Record invoice payment. 

 

Let me know if this info helps. Otherwise, feel free to ask questions in the comments below.

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