I'm trying to learn the QB way of entering transactions so my new corp sold some grain on inventory but the payment was accidentally deposited into my personal account by the grain buyer. So I created an invoice, then received a payment, now I want to record the deposit to my shareholder loan account (the corp owes me money anyways). How can I record a deposit to my shareholder account? It only allows me to select bank accounts, accounts receivable, and "other current asset" accounts. Do I have to run it through accounts receivable?
Welcome to Community! QuickBooks is a dynamic program to complete your daily accounting tasks with peace of mind. It's important that you're able to successfully record the deposit to your shareholder loan. I'll be happy to help!
To record the loan accurately, you'll need to create a liability account and enter a journal entry. Follow this link to see the complete guide to record this type of entry in QuickBooks Desktop.
If you have any other questions, please don't hesitate to reach out. We'd be glad to assist!