The LOC is a Current Liability account.
Drawing from it is a Deposit to Banking, from the LOC.
Paying interest in an expense. Paying the LOC balance is posted against the LOC account to show the balance is reduced. Then, you reconcile the LOC account to the statements you get.
Resolution for 'borrow issue: 'How to I set up a secured line of credit & borrow, make payments & post interest?' available: Yes.
The borrow 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 borrow issue yourself by looking for a resolution described in the article. If it is a complex borrow issue or you are unable to solve the issue, you may contact us by clicking here or by using other borrow support options.
For more information about resolving issues related to borrow in Quickbooks/QBO or to get support for the issue 'How to I set up a secured line of credit & borrow, make payments & post interest?', click the link below: