@quinn1 wrote:
I obtained a personal loan for a piece of equipment before I started my single member llc business. Now I want to enter this into quickbooks desktop. I own the equipment and I'm wondering how to enter this... Post it to fixed asset and owners equity investment for the amount i paid or something different?
Yes it is posted to a fixed asset account you create in teh chart of accounts
Fair market Value is what you use for the amount, and yes the offset is equity investment. If you bought it just before you started the business then that price could be used, but if some time went by (I use 6 months or more) then fair market value is used.
