How do I receive a shareholder distribution from an outside company that our company is a part owner of?

It's nice to see you in the Community, @Reframed.

I can help you with setting up your shareholder distribution account in QuickBooks Online (QBO).

Partner distribution means you are moving last year's retained earnings to each partner's equity account. To keep track of your partner distribution, we can set up an account to ensure you keep all your records in shape. Here's how:

1. Go to the Accounting menu and select Chart of Accounts.
2. Click the New button to create one and select the type in the Account Type.
   
3. From the Detail Type dropdown select the appropriate type for this account.
4. Enter the additional details you may have such as the Account Name, and Description. Then, select Save.
   
   

Once done, we can manually enter a Bank Deposit into this account to record the amount. I'll show you how:

1. Click the +New icon and select Bank Deposit.
   
2. In the Account dropdown, select the bank account to which the money has been deposited.
3. Enter the Date when the amount has been deposited.
4. In the Add funds to this deposit section, enter the Investor's name in the Received from field.
5. Select the account you have created to record your partner or shareholder distribution in the Account field.
6. Specify the Payment method and enter the investment amount in the Amount field.
7. Tap Save and Close.
   

    

However, I'd still recommend you consult your accountant to guide you with the set up and the recording of the deposits. This is to ensure that your books are accurate.

Let me know if you have more concerns about the recording partner's distribution in QuickBooks. I've always got your back. Have a good one!

Thank you so much for the reply and welcoming me to the community! I appreciate the help!

I am delighted that my colleague @RoseJillB was able to provide the solution that you require regarding shareholder distribution. She did her best to help you achieve your daily tasks within QuickBooks.

Don't hesitate to add your comment again in this thread if you have additional concerns. The Community is here to support you. Have a great day ahead.

Thank you so much! I was going to double check with my accountant, but this makes total sense! Thank you again for chiming in!

Hello Rainflurry,

I have reviewed the solution you’ve shared and it's correct and accurate. Thank you for sharing your inputs to help address the issue.

We love to see members supporting one another! Have a great day.