QB Issue Resolution:

A nontaxable Loan is an Advance. Those are Synonyms.

You enter on the check that this is from an Other Asset account and that often is named Employee Advance or Employee Loan. Those are synonyms.

Resolution for Issue 'how to create a loan in QB for an employee instead of an advance?' available: Yes (Solved).
Source: Intuit Community forum.

how to create a loan in QB for an employee instead of an advance?: 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 Employee
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