How do I make adjustments to the ShareHolder Distribution account?

Hello there, @hhalbe.

Thanks for posting here in the Community. I can help share some information on how you can make adjustments to the ShareHolder Distribution account in QuickBooks Desktop.

If the account isn't reconciled yet, then you have the option to manually edit the transaction in the account. However, if it has been reconciled, you'll need to create a Journal Entry. Doing this will help you:

• Enter transactions in the traditional system of accounting using debits and credits in a general journal or ledger.
• Transfer amounts from one income or expense account to another.
• Transfer amounts from an asset, liability, or equity account to an income or expense account.
• Transfer amounts from one class to another.
• Enter miscellaneous transactions to complete year-end activities.

To guide you in creating a JE, please refer to this article: Record a journal entry.

On the other hand, to know what would be the right account to be used when creating the entry, It'd be best to consult your accountant for additional assistance. This is to ensure that your books will be recorded accurately. 

This should get you moving today.

I'm just a reply away if you have any other questions with creating an adjustment for the Share Holder Distribution in QuickBooks Desktop. Thanks for dropping by and have a lovely day!

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@hhalbe wrote:

How do I make adjustments to the Share Holder Distribution account? There are transactions in this account that should not be. I need the Share Holders balance to decrease and therefore need to show that the transactions have been moved.

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Shareholder distribution payable should be an equity or liability account.

Write the shareholder a check for his portion of the distribution and use that shareholder distribution payable account as the expense (reason) for the check.

Hello @BettyJaneB
Thank you so much for your reply.  These records have been reconciled already.  Book Keeper recorded numerous transactions in Share Holder Distribution which should have been in expenses for the company.  Many Journal Entries will need to be made as these transactions cover 3-5 years time frame. 

@Rustler   You did not read my entire question.  I am needing to move entries out of Share Holder Distributions because they were entered incorrectly.  They should have been expenses to the company.  For example, an ATM withdrawal was put into Share Holder Distributions.  The money from that ATM Withdrawal was for company expenses not personal money to the Share Holder.

oops. sorry

find the total of the expenses per expense that are incorrectly in the distribution account, do a journal entry

debit correct expense account

credit distributions

for that amount or total