QB Issue Resolution:
“When my statement shows a balance on account it means I have borrowed money and owe them (unlike a bank statement). I am having a hard time reconciling and trying to make my brain think in reverse. Maybe I shouldn’t be treating this account like a bank account, but rather like a loan account?”
A Line of Credit for spending is basically a Cardless Credit Card account. Make it a Credit Card account.
Resolution for Issue 'Can I use my lending institution like a bank account or should it be a current liability account?' available: Yes (Solved).
Source: Intuit Community forum.
Can I use my lending institution like a bank account or should it be a current liability account?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for balance on account
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Error Recovery for balance on account [Canada]
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