QB Issue Resolution:
If this is a single-member LLC treated as a disregarded entity, this would all be changed to Equity, not Loan.
Create one Vendor Credit and list the total there, posting to Equity or to Liability, as directed by your CPA, if you really want to remove this from AP. Then use Pay Bills to apply the credit to each bill.
But AP is a liability, already. If it is a Loan, there is no need to move it.
Your CPA might tell you it is equity and they already did this for each year end. You need to ask them.
Resolution for Issue 'Owner’s expense for a LLC' available: Yes (Solved).
Source: Intuit Community forum.
Owner’s expense for a LLC: 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 liability
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