Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowIf a partner paid for an expense through personal funds, then this would increase that partner's equity account. Guaranteed payments are compensation for work preformed in the business. If paid and recorded as a guaranteed payment, that partner would pick up the income at the end of the year as indicated on their K1.
Repayment for the expense should be recorded as a reduction in the partner's equity account.