I'm new, for a deposit from partner or owner to get money in for business. does it go into Owners Equity or loan payable? Customer pays by ck go to pay invoice and pull down accts receivable or make deposit so it will print
Hi disneyvent and thanks for visting the forum today!
You may want to ask your accountant, but usually anytime your owner adds money to the operating income for a company, it would go into Owners Equity. If he also took out a loan to get that money, then you would need to add a Loan Payable as well. But your accountant may have a preference for this, so you should probably ask him/her.
If you send your customer an invoice and that customer gives you a check to pay the amount they owe, then you want to do a "Receive Payments" for that check. "Receive Payments" is found both on your home screen and under the "Customers" dropdown on the top menu bar. You can find the exact process for receiving payments in the QuickBooks Help menu.
Thanks and please mark this question as Solved or Helpful or add a comment if you have further questions. Have a great day!
