How do I setup an operating loan or line of credit?

This article demonstrates how to setup an operating loan in Traction.



1.  Go to Accounting and choose Chart of Accounts.   


2.  Scroll down to Notes Payable - Short Term and click on the arrow to the right of Details


Select Add Account and fill in all of the information in the Account Info tab. Make sure to pick Line of Credit for the account type, filling out the different fields as appropriate.


If you would like to manage this Line of Credit as a Checking Account and show in the Account Register, simply enable this toggle.


3.  [OPTIONAL] Click on the Details tab and fill in the all of the information.  Next, click on the Calculate Payment button.  This will generate a Payment amount for this Operating Loan.  This amount can be edited if it is not correct.  Confirm that the entries are correct and click on the Save & Close button.


4.  The Line of Credit will now appear in the Chart of Accounts.