QB Issue Resolution:
If the company is taxed as a sole proprietor or partnership, write the check and use equity drawing
if the company is taxed as a c- or s-corp, write the check and use liability account the company used to record borrowing the money to start with
Resolution for Issue 'Wanting to reimburse a co-founder some funds that we temporarily put in the bank account. How do we code it and avoid it appearing as new income tax-wise for accounting?' available: Yes (Solved).
Source: Intuit Community forum.
Wanting to reimburse a co-founder some funds that we temporarily put in the bank account. How do we code it and avoid it appearing as new income tax-wise for accounting?: 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 Company
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!
Error Recovery for Company [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.
Additional Support Options: