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How to create a Farm Credit Line of Credit account in Quickbooks?
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dpilot83
Posted 3/19/2017 15:21 (#5909638)
Subject: How to create a Farm Credit Line of Credit account in Quickbooks?



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.

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