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tonjunee
Mar 24, 2020 10:41 PM UTC
Question

Can accounts payable become long term loans?

I'm using "Accounts Payable, Due to Owner" to pay for bills in QBO.

I'm not sure how to pay for those Accounts Payable. I've been paying other venders instead of the owner.

 

What happens when if the Accounts Payable goes past a year in the books? Does it convert into a long term loan?

1 reply

AndréB12
Mar 24, 2020 11:35 PM UTC

Hey tonjunee,

 

It's great to see you're using the full potential of QuickBooks Online's powerful Accounts Payable tracking. Each bill or payment you record is tracked individually to unlock insight into its aging. Since this is automatically accounted for as time passes, amounts will remain in your Accounts Payable unless manually transferred out. 

 

Hope this helps!

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