Assuming the partnership agreement specifies that the partner is to get a “guaranteed payment” ( a requirement for that kind of payment), then your entry would be debit guaranteed payment expense, credit payment liability – name.
There are no wages for a partner, no taxes are withheld either – a partner […]
Resolution for 'Business Partner issue: 'How do I enter Unpaid Wages for Business Partner' available: Yes.
The Business Partner 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 Partner issue yourself by looking for a resolution described in the article. If it is a complex Business Partner issue or you are unable to solve the issue, you may contact us by clicking here or by using other Business Partner support options.
For more information about resolving issues related to Business Partner in Quickbooks/QBO or to get support for the issue 'How do I enter Unpaid Wages for Business Partner', click the link below: