“Origination Date,” Original Amount,” and “Term” naturally correspond to the details surrounding a loan you want to track. If you don’t see your needed “Lender,” you can create it within QuickBooks Desktop’s Vendor Center. For a more detailed listing of accounting definitions, here’s a handy dictionary you can refer to. Keeping the depicted example, the “Lender” Navient often implies then need to have a long-term liability account – because of the loan lasting more than a year. To satisfy Loan Manager’s needs, you need to set up a liability account within your QuickBooks Desktop Chart of Accounts. In this example: the account available in the “Account Name” dropdown displays only one available account Loan Manager can use, yet it’s still inapplicable because of it being designated for Payroll. Otherwise, as shown, you will be left with incorrect or empty dropdowns. Make sure your account tracking your loan and the vendor you’re making payments to are in your company file.

The Prerequisites To Track Your Loans in QuickBooks Desktop It also requires proper calibration of your accounts, and institutions laid out within QuickBooks the Loan Manager setup wizard reinforces this when you add loans. Setting this up does require attention to the details of a specific loan you want to track. What is QuickBooks Loan Manager? QuickBooks Loan Manager doesn’t contain any loans within QuickBooks Desktop, yet.Īs the name suggests, it lets QuickBooks Desktop keep track of any loan you want to have tracked inside it. This, among the other items to restore, is likely the least rigorous. QuickBooks Inventory Tracking to FishbowlĬontinuing coverage of the QuickBooks Portable File restoration process within QuickBooks Desktop, recovering what doesn’t come in when it’s restored, we look at restoring your QuickBooks Loan Manager data.

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