What type of book keeping account would I create for personal funds transfer, non wages?

I transferred a large sum of money into my business account. The money was a loan to me from my Father. I then used some of the funds for business and transferred the rest into my personal account to pay bills . I need to create an account for quickbooks that will recognize this disbursement as non payroll or transfer.|||Dear t: Loan? Do you have a loan document signed? If not the IRS may consider the money a gift.





Just code the disbursement so you can recognize the payout. Mixing business $ and personal $ is not a good business practice.





This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent|||ATTENTION





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