cancel
Showing results for 
Search instead for 
Did you mean: 
Smiley
Level 2

S-Corp distribution

I have an S-Corp. I realize that when I pay myself a non-payroll distribution that it needs to come out of the Owner Equity account. I don't have checks and want to send the funds from QBO to my personal bank account. How do I accomplish this in QBO? How do I hook up QBO with my personal bank account? Thank you!

Solved
Best answer March 11, 2021

Best Answers
JessT
QuickBooks Team

S-Corp distribution

Hi Smiley,

 

QuickBooks is for recording purposes only when it comes to withdrawing equity funds.

 

In reality, you can send funds from your business account to your personal account. Then, in QBO, you can record it as a check transaction and use the equity account if you want to categorize it that way.

 

Please check out the steps in this article: Record paying back an investment.

 

If you have other questions in mind, please don't hesitate to go back to this thread.

View solution in original post

1 Comment 1
JessT
QuickBooks Team

S-Corp distribution

Hi Smiley,

 

QuickBooks is for recording purposes only when it comes to withdrawing equity funds.

 

In reality, you can send funds from your business account to your personal account. Then, in QBO, you can record it as a check transaction and use the equity account if you want to categorize it that way.

 

Please check out the steps in this article: Record paying back an investment.

 

If you have other questions in mind, please don't hesitate to go back to this thread.

View solution in original post

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

Need to get in touch?

Contact us