For guidance on how to add a loan account to the Chart of Accounts, please refer to the below steps.
| From the Main Toolbar, go to Accounting. |
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| Select Chart of accounts from the list. |
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From the Chart of Accounts, select Add Account | Liability LRBA.
Input the relevant account details and ensure to save these changes by clicking ‘Save’.
A sub-account will then be created under the Chart Code 85500 for the relevant loan account.
If a loan account has been incorrectly set up under the Chart Code ‘60400/Bank Accounts’ please refer to the instructions outlined here to remedy this.