If you're not familiar with Farm Credit, when you write a check you are increasing the balance on your line of credit by that amount. If you deposit a check you are decreasing the balance on your line of credit by that amount. I am trying to determine what kind of an account I should use in Quickbooks to track my Farm Credit line of credit. I believe normally one would use a "Credit Card" type account in this situation but my problem with that is that I want to print checks through Quickbooks on the Farm Credit line of credit. From what I can tell, to print checks I need the account to be referred to as a "Bank" account. I guess I can't really think of anything terribly wrong with this. My account will always just show a balance of zero or less since it's a line of credit. Is there anything wrong with doing it that way? Thanks. |