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Re: setup for external line of credit

Have you resolved this?

If not: do I understand that you have to write credit line checks to your company, thus moving the money into your account, so you can then distribute it for company purposes?

If that is so, can you use it instead to directly pay vendors? Then you could use it as a normal checking account.

Most credit lines have a second method of access: either a debit card or similar, or the ability to do ACH transfers.
Are you 100% certain that the ACH option is not available to you?


On Sat, 1 Jan 2011, Michael Richardson wrote:

Previous to this past November my company had a line of credit account
at the same bank as it's bank account.  The LOC was a seperate account
that was part of my personal line of credit, and it moved to a new bank
when my mortgage moved.

Previously, it was a transfer between accounts, and I just invoked it
online, and was done.  Now, I need to write a checque. (North American
banking sucks...)

Since I like to have my checques printed nicely, I'm wondering what the
best way to set this up.  Using the "Transfer" function under cash does
not give me a chance to print a checque.

I can not set Expense/Asset option as well as Payment for my LOC asset
account, so it won't fit into the Add Transaction.  What else can I do?

(The interest charges are easy: set up the bank as a payable against an
expense account for the interest)