Question asked by Graeme Loudain 11 years ago
Hello I have set up a new bank account to record a loan. (Called Loan from WBT)
I want to enter the amount of the loan as at the start of this fin year.
Going into Settings/Getting Started/Cash the bank account doesnt appear - what am I missing?
Thanks
Graeme
(Products for offices)
Hello Graeme,
The reason why it does not show up there is because it is not a positive cash balance. As it is a loan, it will show up as a non-current liability.
The loan account will show up in Settings > Getting Started > Other Balances.
You will be able to enter the opening balance of your loan account on the credit side. Note, you may need to enter a corresponding debit side entry as well.
I feel it maybe prudent to use a journal via Tools > Journals > Create to credit the loan account and then debit the normal bank account or other account.
Vanish
Best answer
You must 