I am not sure my post went through , so here it is again. What if the money was paid straight to the loan owed. So you have no money to deposit. Example: I have bank 1; bank 1 has a loan of 10,000 so tractor 1 paid the loan off. No money was exchanged between myself and the others. I then bought equipment from tractor 1 and the loan they paid off was added into the price of the new equipment/loan through tractor supply. How is this recorded in QBO.
I think this is illegal and not ethical to do so....You may face legal actions if the concerned authority finds out inflated cost of equipment's purchased due to loan repaid by them.
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