Quickbooks Online Training - Loans Payable with Cost of Goods Sold

Sponsored by http://mermaidsdating.com/

Get Quickbooks Online Training by Visiting our website.

We received a Question from "Shannon Carter" in our MegaNiche Channel

I have a customer in Quickbooks who gave my company a business loan without interest. I am paying them back in fuel($3.50/gal). So when they fuel up I've been keeping track of the loan by having a credit memo under their customer account, and making invoices to put against the credit memo. How can I set up a loan but have it be paid off by trading fuel? If I can't do that, is there another way to keep track of the loan and fuel without writing checks for the loan? Thanks for your help.
--

OUR RESPONSE

It all comes down to Journal Entries.

You will have to at some point Credit Cost of Goods Sold and Debit Loans Payable.

Видео Quickbooks Online Training - Loans Payable with Cost of Goods Sold канала Mega Niche University