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Jim2® Business Engine Help File

Navigation: Jim2 Functions > Accounts

Set up a Loan Account

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The following explains how to set up a capital loan account.

 

Set up a liability loan account – usually a 2-XXXX Long Term Liability

 

business loan

 

Add a 6-XXXX Expense account for loan interest, and loan bank fees.

 

business loan1

 

Add a deposit entry, and bank funds into the desired bank account. Post to the new liability GL account using tax code X.

 

Further information: