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How to record loan receivable the owner of our company

How to record loan from shareholder to company?

I ran a card so this came through AR and now the money is sitting in undeposited funds. 

How do I clean this up?

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How to record loan receivable the owner of our company

Hi there, OTLCB.

 

Good to see you in the Community. Allow me to help share some insight about recording loan and clear the Undeposited Fund in your QuickBooks.

 

You can remove the amount from the Undeposited Funds by creating a deposit. Let me guide you how: 

  1. From the Banking menu, select Make Deposits.
  2. If the Payments to Deposit window opens, click Cancel.
  3. In the Make Deposits window:
  • In the Deposit To field, select account to deposit the loan into.
  • Check the Date and enter an optional Memo.
  • In the FROM ACCOUNT column, select a Liability account.
  • In the AMOUNT column, enter the loan amount.
  • Click Save & Close.

Also, to make sure I'm on the same page, can you confirm how you record the loan in your QuickBooks so that it'll show in the Accounts Receivable account? This way, I can better assist you with recording loans in QuickBooks.

 

I've attached an article about this for additional reference: Track Loans.

 

These resources should help to get you on the right track for recording the loan amount and clearing Undeposited Funds in QuickBooks.  

 

Drop me a comment below if you have any other questions about this or about QuickBooks. I'll be happy to help you further. Wishing you and your business continued success.

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