cancel
Showing results for 
Search instead for 
Did you mean: 
kbour021
Level 1

How to categorize owner contributions

Alright so we just set up an LLC Partnership and I'm getting some conflicting information on how to set up and categorize when an owner puts money into the company. We do not all have the same equity percentage. How do I appropriately set this up? I originally set up our names under "Owners Equity" and categorized them as "Owner Contributions" but I've also seen that setting it up under "Partner Contributions" can be beneficial as it track our percentage of ownership. Any help would be great!

1 Comment 1
GNJRox
Level 4

How to categorize owner contributions

It is really your preference how you want to set it up. This is how I usually set it up in COA in Desktop:

 

Equity

  • Partner 1 - Draw
  • Partner 1 - Equity
  • Partner 2 - Draw
  • Partner 2 - Equity

Here is a screen snip of one of my COAs:

Annotation 2020-07-16 131854.png

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