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I
Iowa Mama of 7
January 7, 2021
Question

Why is loan manager not seeing the long term liability account I added?

  • January 7, 2021
  • 1 reply
  • 0 views

I am working on setting up a new account in loan manager.  I cannot find the account in the drop down menu in loan manager.  This is for a vehicle loan.  I created the vendor account to pay the loan to.  I created the long term liability since this will be paid off in 3 years, at 0 percent.  I created the fixed asset account as well.  Why is the liability account not showing up in loan manager?  The tax line mapping is similar to other accounts that are popping up in loan manager.  

 

On another note, the last time I used loan manager probably about 5 to 7 years ago, I had a problem with Quickbooks, they had to restore my data file or something years ago, and I lost my loan manager stuff and didn't have the time to spend days upon days with Quickbooks trying to resolve it.  So I just managed my loans myself.  When I was searching for my answer to my question I see that people are still having this problem where their loan manager files don't transfer over correctly when they have to fix their data file with Quickbooks.

 

Since this is a 0 percent loan, should I just do that and avoid loan manager since it's already not working?

 

Thank you,

Rachel

1 reply

KlentB
KlentB
January 7, 2021

I can help you fix this, Rachel.

 

It's possible that some components of QuickBooks are damage that's why the liability account you've created isn't showing. You can try running the built-in repair tool to resolve unexpected behaviors right away. 

 

Before diving, please make sure to create a backup of your company file first. This way, you can restore your data if you ever run into problems. Then, restart your computer to close all the programs that may affect the repair. When you're ready, here's how to repair your QuickBooks Desktop:

 

  1. Open the Windows Start menu, then select Control Panel.
  2. Choose Programs and Features then Uninstall a Program.
  3. Select QuickBooks from the list, then click Uninstall/Change.
  4. Hit Continue or Next.
  5. Select Repair, then click Next.
  6. Once it's done, select Finish. Please know that you may have to restart your computer to complete the repair.
  7. Update your QuickBooks to the latest release to get the latest security patches.

Once it's rectified, you can now start recording the loan using the QuickBooks Loan Manager. Alternatively, you can also manually track your vehicle loan in the program since its a zero-interest loan.

 

Lastly, here's an article that you can read to help track where your company stands in terms of expenses and accounts payable: Customize vendor reports.

 

I'm just a few clicks away if you have any other concerns or further questions. Have a great rest of the day.

I
Iowa Mama of 7Author
January 7, 2021

Thank you for your response.  I'm working on creating a local back up now. Then I will run the repair tool?  Then if that doesn't fix it, try the 7 steps you suggested to repair Quickbooks?  Does that sound correct?

 

Thank you,

Rachel

    IamjuViel
    IamjuViel
    January 7, 2021

    Hello there, @Iowa Mama of 7.

     

    You'd want to run the verify and rebuild tool first after creating the backup. This tool self-identify and self-resolve the common data issues within your company file such as missing Long Term liability accounts. I can guide you on how to do it.

     

    To Verify Data:

    1. Go to the File menu.
    2. Tap Utilities then Verify Data.
    3. Click OK on the prompt.

    To Rebuild Data:

    1. Click the File menu.
    2. Go to Utilities and select Rebuild Data.
    3. Hit OK to back up your company file.
    4. Wait until the Rebuild is complete.
    5. Click View Results.

    Once completed, restart your device to ensure that all components are updated. You can now try viewing your Chart of Account list and locate the long term liability account.

     

    If the issue persists, you'd want to repair QuickBooks by following the steps shared by, @KlentB. You can read through this article for more detailed instructions in resolving data damage on your QuickBooks Desktop company file: Fix data damage on your QuickBooks Desktop company file.

     

    Also, I'm adding these articles to help you resolve unexpected behavior while using QuickBooks:

    Always feel free to get back to us here if you have other questions about navigating around QuickBooks. I'm always here to help.

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