I am loaning money to a family member. How do I set up a loan that is not a debt?


Best Answer


  • wanderingwillow22
    :) Thank You, that worked now I just have to see how the payments go in. The money will be deposited into on of my accounts. How do I apply it to the loan?
  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    In that deposit, show it as a Transfer from the Lender Loan account.
    This account is an ASSET, not a debt as you already know.  So, you're simply moving money from one asset (the loan) to another asset (your bank account).

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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