QuickBooks Tip of the Month: Unlock Cash Flow Flexibility with QuickBooks Line of Credit!
If your business needs extra cash flow to fund invoices or cover other expenses, QuickBooks Line of Credit (QuickBooks Capital) could be the solution! This service helps businesses access quick credit for smooth operations and improved financial flexibility. Here’s how to get started:
- Access QuickBooks Line of Credit
Sign in to your QuickBooks Online account and navigate to the Invoices. Select QuickBooks Line of Credit. - Start the Application
Click Get Started to begin your application process. - Complete the Application
Fill out the required application information to proceed. - Review and Accept Terms
After your application is reviewed and approved, review the terms of the line of credit and accept them. - Access Your Credit Limit
Upon acceptance, your credit limit will be available for funding eligible invoices or taking cash draws. - Record Loan in QuickBooks
Once the loan funds are received, record the deposit in QuickBooks. If your bank is connected, it will automatically appear in the Banking section. If not, manually enter the bank deposit details. - Split the Transaction
Use the Split Transaction feature to accurately record the funds received from your line of credit.
QuickBooks Line of Credit is a great tool to manage short-term cash flow needs, and it integrates seamlessly into your QuickBooks Online system. Ready to enhance your financial flexibility and streamline your business’s cash flow management? Schedule a meeting today!
