How should I enter shareholder deposits?

[stephen4]

We deposited personal funds to the business account to cover an expense. How should this be entered in QB?

[KATA · Accepted solution]

The deposit function will debit the bank account.  The offset is a credit to Shareholder Loan.  The Shareholder Loan account should be a current liability and specifically identify the shareholder who contributed the funds.

Note:  CRA doesn't care if the corporation owes a shareholder, but may take action of the shareholder owes the corporation for more than one reporting period.

[House Doctors]

I am assuming the deposit is in the General Journal

[RezaRahmati]

Can you please add steps for deposits (as in the question owner deposit money to company bank account)