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Rustler
Level 15

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A 2 (or more) member LLC is a partnership, as long as you will be taxed as a partnership then I suggest each have the following equity accounts

[name] Equity (do not post to this account it is a summing account)

>> Equity ( first of the year roll up drawing and investment into this account as well as retained earnings)

>> Equity Drawing (record the value you take from the business here)

>> Equity Investment (record the value you put into the business here)

 

Then when you add money to the partnership you deposit it and use [name] equity investment as the source account for the deposit

 

when you want to be paid back, write a check and use [name] equity drawing as the expense (reason) for the payment

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