Re: Entering personal auto loan payments made by the company--C Corp
Recording a loan payment for a personal car loan paid for by the company --C corp. If I record it as a debit to Loan to Shareholder-car loan account wont be credited in QB...
Making the payment lowers cash (credit), using the loan to shareholder account increases (debit) that account, the amount the shareholder owes the company
A loan to shareholder is an asset account, they owe the company
A loan from shareholder is a liability account, the company owes the shareholder