cancel
Showing results for 
Search instead for 
Did you mean: 
rfranks215
Level 1

Recording Debt Consolidation Payments

I have a client that uses the business account to make debt consolidation payments. The consolidation is to help his personal credit score but he is a single member Llc and I don't believe the irs 1040 will care either way but what would be the correct way to record these payments?

1 Comment
Rustler
Level 15

Recording Debt Consolidation Payments

payments for personal use is an equity draw

Need to get in touch?

Contact us
Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up