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Anonymous
Not applicable

Loan from owner - Quickbooks desktop

Owner is making a loan to his S-Corp.  How/where does this get entered into Quickbooks desktop?  And how to report on tax return.

2 Comments 2
BigRedConsulting
Community Champion

Loan from owner - Quickbooks desktop

Probably, deposit the money in a checking account and then create and use a liability account - for the loan balance - in the detail area of the deposit form.

 

This will increase cash and create a liability the company can pay back at a later time, according to the terms of the loan.

alonindustries
Level 1

Loan from owner - Quickbooks desktop

Create a new account, Long Term lIability, Account name:  Owner loan, tax mapping - B/S-Liabs/Eq.: Loans from stockholders.  You should be able to enter the opening balance on the account register

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