How do I enter a loan I made as an asset?

raysowers

I have several small loans I made to small businesses through a small business funding site. I want to enter a loan I made and show it as an asset. For example, $2,000 at 9.75% interest payable over five years with quarterly payments. I can only find how to enter a loan as a liability, as if I received a loan instead of making the loan.

Boatnmaniac

So you want to set up loan accounts for which you are the lender?

It's not really intuitive because instead of setting them up as Loan accounts you need to first set them up as Asset accounts and then convert them to lender loans. Click on the following link to view the relatively simple process in Help: "How do I set up a loan for which I am the lender?" When complete the loan accounts will show up as assets with payment receipt schedules..

Boatnmaniac

So you want to set up loan accounts for which you are the lender?

It's not really intuitive because instead of setting them up as Loan accounts you need to first set them up as Asset accounts and then convert them to lender loans. Click on the following link to view the relatively simple process in Help: "How do I set up a loan for which I am the lender?" When complete the loan accounts will show up as assets with payment receipt schedules..

raysowers

Thanks, it worked perfectly. I also saved it to a pdf for future reference.