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September 25, 2022
Question

Loan from owner - Quickbooks desktop

  • September 25, 2022
  • 2 replies
  • 33 views

Owner is making a loan to his S-Corp.  How/where does this get entered into Quickbooks desktop?  And how to report on tax return.

2 replies

BigRedConsulting
Level 15
September 25, 2022

Probably, deposit the money in a checking account and then create and use a liability account - for the loan balance - in the detail area of the deposit form.

 

This will increase cash and create a liability the company can pay back at a later time, according to the terms of the loan.

September 27, 2022

Create a new account, Long Term lIability, Account name:  Owner loan, tax mapping - B/S-Liabs/Eq.: Loans from stockholders.  You should be able to enter the opening balance on the account register