Financial Software Questions? Ask IT Support for Answers ASAP
I'm working with Quickbooks and have a question: I need
I'm working with Quickbooks and have a question: I need to enter working capital that is part of a 25 year fixed building loan with Wells Fargo. We distributed out the entire working capital so we need to know how to categorize it so it doesn't show as a negative current asset. I am using Quickbooks Essentials online. Thank you. David *******
If you create the building loan in QuickBooks as long term liability, you should be able to enter disbursements in connection with the loan as transfers to another account (say a checking account). The liability account will show a balance, but it will appear correct on your balance sheet.