accounting for an employee loan
I loaned some money to an employee. He paid off a lump sum now we will be taking the balance out of his check monthly. How do I track all of this.
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02/09/10 10:43am PST
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If you want to track the loan given to employee, then first you have to set up a Employee Advance account -Asset in Chart of accounts and then Payroll item to track the deduction from pay check. There is process to follow for this. Please take a help from within the help Menu in QBS and follow as per your need. Hope this helps.
