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Borrowed money from a partner to invest in the company. Not sure how to set this up in QB. Can someone help please?
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I'm glad to see your post here in the Community, OmegaAdmin.
I can guide you through on how to set up a loan in QuickBooks Online (QBO).
Let's first to set up a liability account for the loan. To do this, please follow the steps below:
Once done, you can proceed to the next step which is to create a journal entry to record the loan. For the details of the steps, please refer to this article: How to record a company loan from a company officer or owner.
That should do it. Always feel free to drop by again if you have follow-up questions about setting up a loan in QBO. I'd be glad to answer them for you.
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How do i create the journal entry if there are no expenses yet. But i need to put money in bank
Good day, lbmiller51.
I'd be glad to share the steps with you on how to create a journal entry in QuickBooks Online. Here's how:
However, you usually make a bank transfer or bank deposit if you want to add in funds to the bank. Please see these articles for more details:
Don't hesitate to reach out to us again if you need more help from us. The Community is always here to make sure you get everything sorted out.