Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowHi. I am an accounting/bookkeeping newbie.
When I set up my the business in quickbooks a year ago, I added the loan from the owner's to the owner's equity accounts instead of making it a Long Term Liability (it is a loan not an investment).
How do I fix this?
Thank you!
Solved! Go to Solution.
Welcome to QuickBooks Community, hwall.
I've got steps on how we can switch this to a long term liability. Please follow the steps below:
Here are screenshots that will serve as your visual guide:
I'd also recommend reaching out to your accountant to make sure this is best for your business and proper recording is applied to your books to avoid messing them up.
You're always welcome to post again anytime here if you need help with managing your QuickBooks.
Welcome to QuickBooks Community, hwall.
I've got steps on how we can switch this to a long term liability. Please follow the steps below:
Here are screenshots that will serve as your visual guide:
I'd also recommend reaching out to your accountant to make sure this is best for your business and proper recording is applied to your books to avoid messing them up.
You're always welcome to post again anytime here if you need help with managing your QuickBooks.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.