I have a vendor invoice and the amount is being transferred to shares...how do I get the invoice off payables and the amount into shareholders account

Hey debralee-taylor,

Knowing the correct accounts to select is half the battle, so I'm confident you'll have no problem recording this in QuickBooks. Applying complex transactions against bills allows you to take full control over your books, and the process used can be applied in various situations. I'll be happy to guide you through this.

The best way to record such a transaction is by first recording a Journal Entry, then a Cheque. The journal entry allows us to reduce the accounts payable balance to transfer it into your shareholders account. The cheque is just to tie up loose ends and maintain accurate aging of your accounts payable. It's just a few quick and easy steps:

1. Click on + New then select Journal Entry under Other.
2. Enter the date this happened.
3. IMPORTANT: The Sales Tax column should be left blank or out of scope.
4. On the first line select Accounts Payable, enter the amount in the Debits column, and select your supplier under Name.
5. On the second line, choose the account you're transferring into and enter the Amount in the Credits column.
6. Click Save and close.

Now you'll have the correct supplier balance, and the amount in your shareholders account. This goes around the powerful tracking and aging features QuickBooks Online offers for Accounts Payable, so we just need to link the journal entry with the open bill. This is just a few simple steps that unlock a lot of possibilities in various circumstances:

1. Click on + New then select Cheque.
2. Select your supplier in Payee and enter the Date.
3. Click Add for the journal entry we just created and the open bill.
4. Make sure the payment amount is 0, then Save and close.

If you're unsure of any of these steps, your accountant is your best resource. You can easily invite your accountant as a user so you can work on this together. To find one in your area, simply head to the My Accountant tab in QuickBooks Online then click on Find a pro to help. 

Let me know how this goes! I want to make sure you're all set to record this transaction.