QB Issue Resolution:

Here are the things you can do:

First, create an Asset Account for the loan .

  1. Go to Lists>Chart of Accounts.
  2. Click the Accounts button and select New.
  3. Choose Other Account Types, then select Other Current Asset from the drop down menu.
  4. Name the account “[Vendor Name]Loan”.
  5. Click Save and Close.

Create a check for the loan.

  1. Go to Banking>Write Checks.
  2. Choose the vendor in the “Pay to the order of” field.
  3. Click the Accounts tab.
  4. Select the asset account for the loan.
  5. Click Save and Close.

Record the loan payment from the vendor.

  1. Go to Banking>Make Deposits.
  2. Choose the vendor in the “Received From” field.
  3. Select the loan asset account in the “From Account” field.
  4. Enter a memo stating that this deposit is for the repayment of the loan.
  5. Enter the amount of the payment.
  6. Click Save and Close.

Let us know if this works when you get a chance to try it,

Resolution for Issue '“how to track a loan to a customer” pt. 2 refers to “off-setting account”. Is this current liability?' available: Yes (Solved).
Source: Intuit Community forum.

“how to track a loan to a customer” pt. 2 refers to “off-setting account”. Is this current liability?: 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.

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