How do you record a loan to reflect on balance sheet

Chinnie

Pls how do you record a loan so it reflects on your balance sheet as a liability

Thanks

DannR

Unfortunately, the program doesn't have the option to show the Loan to reflect it on the balance sheet. The balance sheet is going to provide you only the payments so the option is not available. NCH Software formally takes suggestions or feedback about our products through the form at http://www.nch.com.au/suggestions/

wildflowerrun

Go to Chart of Accounts. Set up an account as a liability account. Name it whatever you wish but recommend you put Loan in the name so it's clear.

Wayne_McNeil

Chinnie wrote:

Pls how do you record a loan so it reflects on your balance sheet as a liability

Thanks

Set up an accounts payable/loan account and then use the general journal to make the posting. Debit Bank account and credit the accounts payable/loan account, hit enter and voila