QB Issue Resolution:
I recommend you have the following for owner/partner equity accounts (one set for each partner if a partnership)
[name] Equity (do not post to this account it is a summing account)
>> Equity Drawing – you record value you take from the business here
>> Equity Investment – record value you put into the business here
open the personal bank account register from the chart of accounts, the balance should be negative since all you did was write checks on it. make a new entry as an increase, select owner equity investment, and enter the full amount in the account. The account is now zero balance.
If on the off chance the balance is positive cause you deposited funds to the personal account, change the new register entry to a decrease
I would suggest to you that if you are paying the accountant he works for you, and if he is not willing (or able) to help you with correcting things, maybe it is time to find a more service oriented accountant.
Resolution for Issue 'Correct Way To Enter Members Equity' available: Yes (Solved).
Source: Intuit Community forum.
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