owner loan
sorry posted question to wrong forum. How do I post a loan top to the company from the owner?
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aPsHzmjoSr4yUOacwZ5xHE
12/12/11 10:00am PST
Viewed by asker 12/12/11 11:51am PST
Viewed by asker 12/12/11 11:51am PST
5 Replies
DemosL
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12/12/11 10:56am PST
Create a deposit and use the account (Owed to ________), which would be a liability account. Use the owner's name in the blank.
Demos Loizides
Demos Loizides, LLC
"QuickBooks Expert Can Fix Your Bookkeeping Mess"
http://quickbookspro-nova.com
Demos Loizides, LLC
"QuickBooks Expert Can Fix Your Bookkeeping Mess"
http://quickbookspro-nova.com
qbteachmt
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Intuit Moderator
Mod/Co-mod
12/12/11 10:59am PST
If the company is a Sole Proprietorship, there is no such thing as loan to/from ourselves.
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12/12/11 11:23am PST
You're correct. I assumed the entity was regarded as a separate tax entity from the owner.
12/12/11 11:35am PST
Latest post
Well, He took money from personal savings account to be deposited into business account.
We will be paying back monthly. How would I enter this deposit and show payments?
qbteachmt
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Intuit Moderator
Mod/Co-mod
12/12/11 11:25am PST
The solution
If the entity is Sole Proprietorship, or a single-member LLC disregarded (treated the same as SP), there is no separation.
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