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hiline1
February 25, 2022
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how to record a shareholder loan from a company in quickbooks

  • February 25, 2022
  • 1 reply
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I am trying to find out how to loan myself, an officer of the corporation, money from the corporation in Quickbooks.

How do I set up this loan? It will be a short term loan if that matters.

Best answer by BigRedConsulting

Setup an asset account to track the loan - which is an asset to the company.

Then write a check from the bank account and use the loan account as the "expense" account.

If you'll be paying interest, enter the interest amounts as increases to the loan balance in the loan's register.

1 reply

BigRedConsulting
BigRedConsultingAnswer
February 25, 2022

Setup an asset account to track the loan - which is an asset to the company.

Then write a check from the bank account and use the loan account as the "expense" account.

If you'll be paying interest, enter the interest amounts as increases to the loan balance in the loan's register.

H
hiline1Author
February 25, 2022

Finally somebody understood what I am trying to do. I have posted everywhere what I needed help on and every response was on how to set up a loan FROM a Company Officer to the Corporation.

Thanks for getting it BigRedConsulting

    JoesemM
    JoesemM
    February 25, 2022

    Hello there, @hiline1.

     

    I can see here that you've posted the same question twice. I'd recommend following the advice shared by my colleague: https://quickbooks.intuit.com/learn-support/en-us/account-management/re-how-do-i-set-up-a-company-loan-to-a-company-officer/01/1043795#M58033.

     

    We're always here in the Community to help if you have other questions related to QuickBooks. Stay safe!

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