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Robert M.
Robert M., Consultant
Category: Financial Software
Satisfied Customers: 3071
Experience:  30 yrs. of computer experience in financial and marketing departments.
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I'm working with Quickbooks and have a question: I need

Customer Question

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 *******

Submitted: 1 year ago.
Category: Financial Software
Expert:  Jason M. Tyra, CPA replied 1 year ago.

Hi 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.