Transfer of loan

Hello there, @kj_teo.

You'll want to enter the shareholder name in the memo field when recording a loan payment. Here's how.

In your QuickBooks Desktop (QBDT) Mac:

1. Go to the Banking menu and select Write Checks.
2. Choose the Bank Account you'll use to pay the loan.
3. In the Pay to the Order of field, select the name of the bank.
4. Enter the shareholder's name in the memo field.
5. Fill in the needed information.
6. Once done, click Save & Close.

Here's an article you can read for more details (read QuickBooks Mac Desktop section step 4): Manually track loans.

If you want more tips on how to better record this, I suggest getting in touch with your accountant. That way, you'll be guided accordingly.

Also, you might want to check this article that can guide fix reconciliation discrepancies in your QBDT Mac.

If you need more help with managing your transactions, don't hesitate to leave a comment. You can always count on us.