The land should be in the chart of accounts as a fixed asset, and the loan should be a liability account.
create an income account called gain/loss on asset sales,
deposit the funds received in the bank account and use that gain loss account as the source (from) account for the deposit
Resolution for 'account value issue: 'How do we reocrd land we sold??' available: Yes.
The account value 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 account value issue yourself by looking for a resolution described in the article. If it is a complex account value issue or you are unable to solve the issue, you may contact us by clicking here or by using other account value support options.
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