How to setup a Line of Credit in QuickBooks
41 هزار بار بازدید -
6 سال پیش
-
Learn How to setup a
Learn How to setup a Line of Credit in QuickBooks
Are you trying to set up a line of credit?
Step 1. Create the current liability accounts.
Step 2. Enter the transactions (did you borrow, pay down the line of credit).
Don’t forget to break down the principal and interest. Let me show you …
This video covers setting it up and the different ways you may be paying down the line or borrowing against it.
The key is to enter into QuickBooks exactly what happened.
➡️ Setting Up Line of Credit
Go up to “List”
“Chart of Accounts”
Go down to “Account”
“New”
If you don’t see “Loan,” click “Other Account types: Other current Liability”
Click “Continue”
“Account Name”
“Tax-Line Mapping” – Tax professional
“Enter Opening Balance” (Not Recommended)
Click “Save & Close”
➡️ Transfer/Deposit Line of Credit to Your Account
Go to “Banking”
“Transfer Funds”
“Transfer Funds from”
“Transfer Funds To”
Click “Save & Close”
Or
Go to “Banking”
“Make Deposits”
Pop up screen will show. Click “Cancel”
“Deposit To”
“Date”
“From Account”
“Memo”
“Amount”
Click “Save & Close”
➡️ Paying Line of Credit Back
Go up to “Banking”
“Check Register” / “Write Checks”
“Add details”
Click “Save & Close”
➡️ Decided to buy a vehicle?
**Inside Line of Credit
“Date” you purchased the vehicle
“Account”
“Amount”
Find “Asset” Account
“Memo”
Timestamps:
0:00 - Intro
0:09 - Setup Line of Credit in QuickBooks Desktop
0:47 - Current Liability vs. Long term liability
2:25 - Entering transactions (Line of credit)
3:46 - Paying Line of credit
4:58 - Purchased vehicle with a line of credit
6:29 - Final Thoughts
Need to learn more areas of QuickBooks? Join us on our next workshop to learn how to design QuickBooks for your specific business...
➡️ https://CandusKampfer.com/workshop
Receive our QB tips straight to your inbox each week visit:
➡️ https://CandusKampfer.com/tips
Subscribe here for more QuickBooks tips
➡️ https://www.seevid.ir/c/CandusKampf...
I’d love to connect with you 👇
Instagram: Instagram: candus.kampfer
Facebook: Facebook: CandusKampfer
CandusKampfer.com: https://canduskampfer.com/
TikTok: TikTok: canduskampfer
Pinterest: Pinterest: canduskampfer
#CandusKampfer
Are you trying to set up a line of credit?
Step 1. Create the current liability accounts.
Step 2. Enter the transactions (did you borrow, pay down the line of credit).
Don’t forget to break down the principal and interest. Let me show you …
This video covers setting it up and the different ways you may be paying down the line or borrowing against it.
The key is to enter into QuickBooks exactly what happened.
➡️ Setting Up Line of Credit
Go up to “List”
“Chart of Accounts”
Go down to “Account”
“New”
If you don’t see “Loan,” click “Other Account types: Other current Liability”
Click “Continue”
“Account Name”
“Tax-Line Mapping” – Tax professional
“Enter Opening Balance” (Not Recommended)
Click “Save & Close”
➡️ Transfer/Deposit Line of Credit to Your Account
Go to “Banking”
“Transfer Funds”
“Transfer Funds from”
“Transfer Funds To”
Click “Save & Close”
Or
Go to “Banking”
“Make Deposits”
Pop up screen will show. Click “Cancel”
“Deposit To”
“Date”
“From Account”
“Memo”
“Amount”
Click “Save & Close”
➡️ Paying Line of Credit Back
Go up to “Banking”
“Check Register” / “Write Checks”
“Add details”
Click “Save & Close”
➡️ Decided to buy a vehicle?
**Inside Line of Credit
“Date” you purchased the vehicle
“Account”
“Amount”
Find “Asset” Account
“Memo”
Timestamps:
0:00 - Intro
0:09 - Setup Line of Credit in QuickBooks Desktop
0:47 - Current Liability vs. Long term liability
2:25 - Entering transactions (Line of credit)
3:46 - Paying Line of credit
4:58 - Purchased vehicle with a line of credit
6:29 - Final Thoughts
Need to learn more areas of QuickBooks? Join us on our next workshop to learn how to design QuickBooks for your specific business...
➡️ https://CandusKampfer.com/workshop
Receive our QB tips straight to your inbox each week visit:
➡️ https://CandusKampfer.com/tips
Subscribe here for more QuickBooks tips
➡️ https://www.seevid.ir/c/CandusKampf...
I’d love to connect with you 👇
Instagram: Instagram: candus.kampfer
Facebook: Facebook: CandusKampfer
CandusKampfer.com: https://canduskampfer.com/
TikTok: TikTok: canduskampfer
Pinterest: Pinterest: canduskampfer
#CandusKampfer
6 سال پیش
در تاریخ 1397/03/30 منتشر شده
است.
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