QB Issue Resolution:
I know the proper way would have been to deposit the funds and pay it off through the company. So, after the fact…how can I mark the loan as paid in full without deducting funds from a company source? The vehicle will remain a company asset.
You explained it, deposit the funds to a cash type bank account and pay the loan
the issue is where did the funds come from, and how is the company taxed for income taxes? that makes a difference as to what account is used as the source account for the deposit
Resolution for Issue 'How do I make a note that an open vehicle loan as paid in full using outside funds and remove the balance from Quickbooks without removing the vendor or the loan?' available: Yes (Solved).
Source: Intuit Community forum.
How do I make a note that an open vehicle loan as paid in full using outside funds and remove the balance from Quickbooks without removing the vendor or the loan?: 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.Support for company taxed
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