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How to track loans and other liability accounts
How to track loans and other liability accounts

How to track credit card accounts, how to track loans, how to track liability accounts, how to track liabilites

Yzza avatar
Written by Yzza
Updated over a week ago

You can turn financial accounts into liability accounts by marking them as Credit Accounts. To do this, follow these steps:

  • Go to Settings and click Configure next to the account

  • Select Mark this as a credit card account and select This is a credit card account

  • Save your changes

To track loans for cash you've received, categorize the deposits as either:

  • Other Liabilities

  • Long Term Loans

  • Loans from Owners

Choose the most appropriate account. After saving, these amounts will show up under your Liabilities on your Balance Sheet (Reporting > Balance Sheet).

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