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AdamB1
December 31, 2021
Question

How to log a Partner buyout?

  • December 31, 2021
  • 1 reply
  • 0 views

Hi, I am trying to figure out how to properly log a partner buyout in quickbooks.

Backstory: My company's partner decided to leave, and is requesting a lump sum payment for termination of the partnership. Do I log this as an expence?

Thanks in advance. 

1 reply

J
JamesM4
December 31, 2021

Hi AdamB1, 

 

Welcome to the Community. QuickBooks is a dynamic program that simplifies the way you manage your accounting. I'll be glad to point you in the right direction so you can get the resolution you need in a timely manner. 

 

Making sure you're recording your transactions properly is an essential step for maintaining clean books. Based on what you've described, I'd recommend reaching out to an accounting professional for expert advice on how to record the transactions. If you're not in contact with a professional, don't worry, you can search for one using this link here.

 

I'll also leave this question open in the Community so other accountant users can share their advice. Otherwise, feel free to ask other questions, I've got your back

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