How to create a prepay from a line of credit or operating loan account?

Prepay for chemicals, seed and fertilizer using a line of credit/ operating loan.

Before starting you will need to have created your line of credit/ operating loan account in your chart of accounts. How do I set up a line of credit or operating loan account?

1. Add a new payment from the account register. 

2. Select contact to prepay

3. In the first row; Select account type "Prepay expense", choose the related expense account, enter the description and amount to prepay. 

If this is your first prepay for that expense account you will be prompted to create a prepay expense category - in this example I used the default name. 

4. Add a row, select account type "Other", choose the line of credit/ operating loan account, enter a description and enter the negative dollar amount of the row above. 

5. Save