QB Issue Resolution:
For this S corp, you should have a structure something like this:
Shareholder Equity: subaccounts for Capital and for Distribution.
The Capital is NOT where the new funds are going. The Capital account should be what is paid in for Shares issued and held. Also, the shares held and their Equity needs to match for % held. If you and I are 50/50 shareholders, the Equity always must be 50/50, as well.
Further investments and any distributions have to be pro rata to shares held, or it is not an Equity activity.
That means the differences are handled as Owed To, or Owed From: Shareholder. Also, when someone states, “Well, we are 50/50 shareholders but Bob works twice as hard” then Bob gets paid more through Payroll.
And year end Net Assets (Retained Earnings) is allocated per the shares held, as well.
Resolution for Issue 'How to record the original & subsequent cash investments for S-Corp?' available: Yes (Solved).
Source: Intuit Community forum.
How to record the original & subsequent cash investments for S-Corp?: 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 Chart of Accounts
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