Not to account for Shareholders Loan

Biancamaria

Hi,
sorry for the "silly question" but we are new to this...
We connected our Business bank account to our Book and on Bank transactions there are all the deposit we did from our personal account into our Business account, made to keep the Business running.
These deposit are obviously not "incomes", but just some kind of Shareholder loan, even if we are not planning to have back this "loan".
What we should do to keep correct (even on an IRS Point of view) our books?
Just cancel the transaction?
If we mark it as a "deposit from personal" - "shareholder loan" the books take it anyway as a Deposit and the balance is even (which sadly is not so much, considering we just open our website...).
Thanks

Barsin

Hey there @Biancamaria

I think the best thing to do here is to create multiple equity accounts under the business owner contributions.

You can create multiple business owner contributions accounts depending on how many people created these accounts.

If the deposit was uploaded in separate transactions, you can simply categorize them as the appropriate account owner. If however the equity amount was uploaded as one lump sum, feel free to use our Split Transaction feature and enter in the separate amounts then categorize them as the correct business owner.

Hope this helps!