How to categorize loan advances?

hbwilliams22
hbwilliams22 Member ✭✭
I have a Liquidity Access Line (LAL) where I write checks from for certain expenses. When the check clears, a negative transaction shows in the account as expected.

What also shows is an equivalent but positive "Loan Advance" transaction that quicken auto-categorizes as Income which is not correect. Should I mark these loan advances as "Transfer" or something else? Attached is an example of two transactions.
Quicken for Mac

Comments

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Are these checks coded to debit directly from the LAL account (with a MICR code pointing to the LAL account)? Or are you writing checks against your regular checking account and the overdraft is then transferred from LAL to regular checking, to cover the check?
  • hbwilliams22
    hbwilliams22 Member ✭✭
    Both of the transactions pictured are from the LAL account. I wrote a -$9,740 check to "Gunnison Tree" with a LAL checkbook. Then, within the LAL account, there is an equivalent but positive "Loan Advance" transaction for +$9,740.
    Quicken for Mac
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