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social209
Level 2

Recording loan from Business Partners

There are 3 partners in the LLC. They have gave money to the company and they want to be repaid since the company was established in 2019 and they do not want to count it as an investment. How do i record this "loan" to the company from the partners, also how do i pay them once they ask to be paid?

 

Ex:

PARTNER LOANS 40K

PARTNER 2 LOANS 15K

PARTNER 3 LOANS 30K

1 Comment 1
Candice C
QuickBooks Team

Recording loan from Business Partners

Hey there, @social209

 

It's great to see you back in the Community. To receive the best answer to your question, I recommend consulting with your accountant to be sure. They'll be able to provide you with the best accounting advice for your unique business. If you don't have an accountant, you can check out this link to find one near you. 

 

In the meantime, you can look through this guide about tracking loans in QuickBooks Desktop

 

If you have any other questions, feel free to ask. I want to make sure all of your concerns are addressed. Bye for now!

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