How to create a loan account

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Loans

Assuming you mean for your business to receive a loan from someone else, go to Settings - Chart of Accounts, and create a Liability Account for the Loan you wish to track. You can set an opening balance if required when creating the account. To receive a loan, go to Cash Accounts, Select the cash account the loan will go to, and Receive a payment to the cash account (Received In), and select the Loan account you created (Account) for the loan funds to be entered into. Making a loan payment is …