Click Sub-account of and choose the bank account from the drop downĢ) Create a new loan account in the Chart of Accounts.Enter a name for the account, like “PPP Loan Funds”.In the Chart of Accounts, select Account ▼, then select New.1) Create a sub account to the bank account in the Chart of Accounts.
To keep your financial reports consistent and comparable with the prior year, and since using classes may not be an available option for all QuickBooks users, we will present the following way of recording. There are a few options in QuickBooks for how to record the funds received from the Paycheck Protection Program (PPP) loan and the expenses to which the funds are used. Recording a PPP Loan and Tracking Corresponding Expenses
