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You are here: QuickBooksForum.com.auForumSoftwareQuickbooksLoans from family
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Loans from family
Loans from family
« on: May 20, 2011, 08:06:13 AM »
I have just set up an account and am inputting my deposits etc. If my brother has lent me money, is that income? because I am going to pay it back?
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Re: Loans from family
« Reply #1 on: July 19, 2011, 06:42:59 PM »
Hi, you probably already have the answer to this but if not...

You need to create a liability account (or accounts) for the loans.  As you pay off the loans the liability is reduced.  Let me know if you need any further info.

Kind regards,
Michelle.
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