How to record partners current account

I can help you set up an account to track your partners' business transactions in QuickBooks Online (QBO), shabari76ahmed.

QBO uses suppliers as a way to track what you, partners, or co-owners contribute to your business. Hence, you need to set up a supplier for every person.

Let me show you how:

1. Go to the Expenses menu, then select Suppliers.
2. Select New Supplier.
3. Fill out the form and select Save.

Next, you need to set up the partner's equity account to see what they invest and make from a business. Here are the steps:

1. Go to Settings ⚙, then select Chart of Accounts.
2. Click New.
3. From the Account Type ▼ drop-down, select Owner's equity.
4. From the Detail Type ▼ drop-down, select Owner's Equity or Partner's Equity depending on your situation.
5. Click Save and Close.

If you need to set up multiple equity accounts for your partner, simply create a new one. Then, make sure to mark the Is sub-account box, and then select the parent account.

After setting up the equity account, you can start recording any investments they add to the business. And, record the payback from the investment.

Upon sharing those steps, I still recommend consulting with your accountant. They can provide specific instructions so your books have accurate records.

Keep me posted if there's anything else I can help you with recording the partner's account in QuickBooks. I'll be right here to help you.