Skip to main content
S
SA2022
January 31, 2022
Question

Advances to a shareholder from my corporation

  • January 31, 2022
  • 1 reply
  • 0 views

I am the single shareholder of my company. My company did an advance to me. How do I record an advance so that the bank account of my company is reduced by the amount of this advance and that the amount of this advance show on the balance sheet asset as Amount due by Shareholder?

1 reply

N
Nick K
February 1, 2022

Hi SA2022.

 

Making sure you track all your entries and transactions the right way is crucial to keep accounts correct. I'd be happy to point you in the right direction for this.

 

In order to track your shareholders advance in QuickBooks Online I recommend reaching out to your accountant as they are trained in how to make these kinds of entries. If you don't have an accountant no worries, we can help. You can find one in your area by going to My Accountant>Find a pro to help. 

 

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

Terms & ConditionsAccessibility statement