QB Issue Resolution:
It depends on how the company is taxed
if you are a sole proprietor or a partnership, then post the purchase as being from owner/partner equity investment. Number of ways to do that, but easiest IMO is a journal entry, debit expense and credit equity investment
if you are taxed as a c- or s-corporation, then you create a liability account named something like due to [name] and use a journal entry, debit expense and credit liability. later the company pays you back using the liability account as the expense (reason) for the payment
Resolution for Issue 'Hi, I purchase a CamScanner App on Apple Store. Paid $36 using my Itunes(Apple ID) Balance. How do I record this transaction in Quickbooks Online? Thanks' available: Yes (Solved).
Source: Intuit Community forum.
Hi, I purchase a CamScanner App on Apple Store. Paid $36 using my Itunes(Apple ID) Balance. How do I record this transaction in Quickbooks Online? Thanks: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.
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Error Recovery for purchased an app for my business on Itunes [Canada]
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