cancel
Showing results for 
Search instead for 
Did you mean: 
EWI
Level 1

Quickbooks Refinance with new loan

Hello,

We recently received a loan for 350K to purchase new equipment.

There were two existing journals that this loan paid off for 50K.

 

How do we show in QB that the two existing journals were paid off by the new 350K loan?

Thanks

1 Comment 1
Anonymous
Not applicable

Quickbooks Refinance with new loan

I guess your bank handled the $50K loan payment for you and it never passed thru your bank account.  If so then you can just make a Journal entry between the old and new loan accounts.  Or for better visibility enter it as if if did pass thru the bank - make a $50k deposit and a $50k check, then manually clear these 2 items against each other when reconciling.

  

Need to get in touch?

Contact us