business liability: If I’m trying to log start-up expenses from my personal account for my business as Other Liabilities, shouldn’t it show as positive/debit since I am owed that back to me?
When the business borrows money, from you or anyone, that is a business liability, a debt it owes.
the bank where you deposit the borrowed money, gets a debit to show the increase in asset value (more money), the offset is a credit to the liability account.
Later when you pay back […]
Resolution for 'business liability issue: 'If I’m trying to log start-up expenses from my personal account for my business as Other Liabilities, shouldn’t it show as positive/debit since I am owed that back to me?' available: Yes.
The business liability 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 business liability issue yourself by looking for a resolution described in the article. If it is a complex business liability issue or you are unable to solve the issue, you may contact us by clicking here or by using other business liability support options.
For more information about resolving issues related to business liability in Quickbooks/QBO or to get support for the issue 'If I’m trying to log start-up expenses from my personal account for my business as Other Liabilities, shouldn’t it show as positive/debit since I am owed that back to me?', click the link below: