Chercher une procédure par mots clés.

For more details on specific procedures, please refer to the corresponding links at the bottom of the page)

1. Create a Short-Term Liability item in the Chart of accounts. (Example: 2141 - Line of credit)
2. Add an entry in the General Journal to enter the line-of-credit amount.
   
   Here's an example for a $1,000 line-of-credit entry
   
   1060 Current account at DEBIT $1,000
   2140 Line of credit to CREDIT $1,000

• Repayment WITHOUT interest
1. Add an entry in the General Journal opposite to the one registered at the creation of the line of credit.
   
   for a $1,000 line-of-credit entry
   
   1060 Current account to the CREDIT $1,000
   2140 Line of credit to the DEBIT $1,000
• Repayment WITH interest
1. Add an entry in the General Journal which takes account of the interest.
   
   Here's an example of an entry for a $1,000 line of credit to which 50 cents interest is added.
   
   1060 Current account to the CREDIT $1,000.50
   2140 Line of credit to the DEBIT $1,000 $
   5030 Interest and bank charges to the DEBIT .0.50