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capital accounts: Drawing from Retained Earnings of an S Corp

In an s-corp there are no owner equity accounts, you have shareholder capital and additional shareholder paid-in capital accounts.

Those capital accounts can not be used the same way equity accounts are used in a sole proprietor or partnership. In a corporation, as a working shareholder you are required to be […]

Resolution for 'capital accounts issue: 'Drawing from Retained Earnings of an S Corp' available: Yes.

The capital accounts 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 capital accounts issue yourself by looking for a resolution described in the article. If it is a complex capital accounts issue or you are unable to solve the issue, you may contact us by clicking here or by using other capital accounts support options.

For more information about resolving issues related to capital accounts in Quickbooks/QBO or to get support for the issue 'Drawing from Retained Earnings of an S Corp', click the link below:

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capital accounts: How do I account for tax free funds from a mortgage that we divvied up? We do not want to use these funds to pay down capital accounts.

There shouldn’t be any additional entry required. If you have entered the mortgage advance and closing costs etc, then the net cash should just be in the bank.
Example:
Mortgage advance: Cr Mortgage payable $500,000
Legal closing: Dr Legal expense $500.00
HST on legal: Dr HST payable $65.00
Net cash: Dr Bank account $499,435.00

Resolution for 'capital accounts issue: 'How do I account for tax free funds from a mortgage that we divvied up? We do not want to use these funds to pay down capital accounts.' available: Yes.

The capital accounts 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 capital accounts issue yourself by looking for a resolution described in the article. If it is a complex capital accounts issue or you are unable to solve the issue, you may contact us by clicking here or by using other capital accounts support options.

For more information about resolving issues related to capital accounts in Quickbooks/QBO or to get support for the issue 'How do I account for tax free funds from a mortgage that we divvied up? We do not want to use these funds to pay down capital accounts.', click the link below:

Details

capital accounts: Hello,how do I go About entering an invoice which contains tools and small equipment purchased from supplier from my main bank account. Also initial investments, thanks

clicking here or by using other capital accounts support options.

For more information about resolving issues related to capital accounts in Quickbooks/QBO or to get support for the issue 'Hello,how do I go About entering an invoice which contains tools and small equipment purchased from supplier from my main bank account. Also initial investments, thanks', click the link below:

Details