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33bvtr03
December 5, 2021
Question

Selling shares

  • December 5, 2021
  • 2 replies
  • 0 views

My wife and I are retiring and want to sell our shares to our partner. How do I sell shares in the company, get the funds out, and what accounts do I use?  Preferred or common? Can I use retained earnings as  a source account?

2 replies

N
Nick K
December 6, 2021

Hi 33bvtr03.

 

Being able to enter all your funds and shares in QuickBooks Desktop is a great way to keep track of all your assets. I'd be happy to point you in the right direction for this.

 

When it comes to how you track your income from selling shares and which accounts to use it's best to reach out to your accountant as they're trained in how to make these kinds of entries. If you don't have an accountant no worries, we can help. You can go to our Find an Accountant page to find one in your area. Once they let you know what accounts to use and how to track these kinds of entries feel free to reach back out and we'd be happy to help you get this completed.

 

If you have any questions let us know and we'd be happy to help.

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