I paid the shareholders' distribution through a transfer, now I need to categorize this transaction in QBO as a shareholder distribution. ¿How should I do that?

I created in Chart of Accounts an Owner's equity account, should I categorize it as Owner's Equity or Record it as a transfer?

Level 15

Shareholder distribution is only in corporations, is your business taxed as a corporation?

If so there are no named equity accounts, nor are the ones that do exist used the same way.

Shareholder distribution is a payable when declared and is then paid

I suggest strongly that you get with an accountant who can get this all straight

Thanks for your reply!

We are an S-corp

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