Step by step guide to Manage Loan in QuickBooks

If you want flexible and reliable accounting software for your startup, go for QuickBooks. QuickBooks is one of the best accounting apps in the world. This unique software is developed by Intuit especially targeting the needs of the small and medium-sized business.

It helps to manage your finances efficiently and accurately. This flexible app allows you to customize it as per your requirements so that you can get the reports and invoices in the desired format.

QuickBooks is gaining popularity because of its flexibility, ease of use, performance, and affordability. Intuit provides QuickBooks Enterprise Support to its users to provide an instant solution for the issues related to QB.

Intuit also provides manual and guiding material along with QuickBooks, so that you can use this software efficiently. You can customize this software according to the needs of your business.

You can easily manage your inventory items, track financial data separately by location and analyze profitability. If you are facing any difficulty related to managing the loan accounts in QuickBooks, then use this step by step guide for managing the loan in QB.

For creating a liability loan account:

  1. Open your QuickBooks.
  2. Navigate to the top menu and look for the heading ‘Lists,’ click on it.
  3. From the list of options displayed on your screen, choose ‘Charts of Accounts’ by clicking on it.
  4. Go to the ‘Account’ tab located below the list of accounts and click on it.
  5. Now from the pull-down menu, choose ‘New.’
  6. Next step is to choose the option ‘Company’ followed by ‘List’ and then select ‘Chart of Accounts.’
  7. Now right click anywhere on your screen and choose ‘New’ from the menu appearing on your screen.
  8. From the list of accounts displayed, choose the option ‘Other.’
  9. You should now expand the list of available account types by clicking on the ‘down-arrow’ tab.
  10. Select the option ‘Other Current Liabilities’ for short-term loans or choose ‘Long-Term Liability’ according to your requirements.
  11. Follow the instruction and finally save the entry.

If you want to deposit the loan amount, use the following procedure:

  1. Launch your QB and navigate to ‘Banking’ in the top menu and click on it.
  2. Choose ‘Make Deposits’ from the list displayed on your screen.
  3. A ‘Make Deposits’ window will appear on your screen, select the deposit account for the loan.
  4. Enter the required information accurately.
  5. Save this entry by clicking on the ‘Save’ button.

In case you encounter any error in your QB, contact the experts by dialing QuickBooks Customer Support Telephone Number and get an instant solution for your problem. The QB Customer Support is available 24×7, so you can seek expert’s assistance anytime you want.

This Customer Care Service is toll-free so that you can avail help free of cost. Also, make sure that you use only official and verified Customer Support Number of QB to avoid any inconvenience. You can avail authentic QB Customer Care Number from any trusted online directory.

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